CARGOLUX SEES IMPROVED PROFIT IN 2000

CARGOLUX SEES IMPROVED PROFIT IN 2000    Cargolux, the Luxembourg-based airline, reported net profit in 2000 of $33.0 million, up from $30 million in 1999.
   Operating profit more than tripled to $36.2 million, from $10 million in 1999, good for a 5-percent return on sales.
   Revenue rose 15 percent to $739 million, while ton-kilometers flown grew 17 percent to 3.81 billion. Tons carried on Cargolux aircraft rose 12 percent to a record 432,404 tons.
   Cargolux said markets were strong in Europe, Africa and most of Asia, and relocated some capacity last year to Asia from the U.S. West Coast, where a strong dollar affected exports to Europe.
   The airline, which operates a fleet of 10 B747-400 freighters, plans to add an 11th B747-400F in August and a 12th in September 2002.
   In 2000 Cargolux added or expanded services to Auckland, Bangkok, Bogota, Guadalajara, Hong Kong, Johannesburg, Komatsu, Melbourne, Shanghai and Seoul.