The Luxembourg-based airline’s net profit of $5.5 million last year fell significantly from its $49 million profit for 2015.
Cargolux, a Luxembourg-based cargo-dedicated airline, reported a net profit of $5.5 million for 2016, down significantly from the $49 million reported in 2015.
Scheduled freight metric ton kilometers (FTKs) grew by 10 percent versus a market growth of 3.8 percent, while the company’s worldwide market share reached 3.9 percent.
Cargolux carried 964,131 metric tons of freight on its global network with available metric ton kilometers increasing to 11.3 million.
In 2016, the airline took delivery of its 14th 747-8F, adding to its fleet of 26 other 747 freighters, which consist of a mix of 747-400Fs, 747-400BCFs, 747-400ERFs and 747-8Fs
Cargolux further developed operations to and from Zhengzhou, making it the group’s largest hub in Mainland China, surpassing Shanghai. The airline carried over 105,000 metric tons of freight to and from Zhengzhou in 2016, up from the 66,000 metric tons in 2015.
Cargolux said its results have enabled it to move up two places to rank at number six on IATA’s Top 25 cargo carriers ranking for international scheduled FTKs.
Cargolux reports 2016 results
