Cargolux revenues pass $1 billion for first time
Reflecting the upward trend in the air cargo industry, Cargolux passed $1 billion in revenues for the first time in 2004.
The Luxembourg-based all-cargo airline revenues for 2004 were $1.2 billion, a 26.4 percent jump over the $954 million achieved in 2003.
Net income in 2004 was $83.5 million, up 18 percent over the $71 million posted in 2003. Operating income was up 24 percent at $80.7 million, compared to $65 million in the previous year.
Cargolux carried 595,019 tons of freight in 2004, up 17 percent over the 507,104 tons carried in 2003. Fuel costs increased 60 percent to $324 million.