• ITVI.USA
    15,859.850
    -49.550
    -0.3%
  • OTLT.USA
    2.773
    -0.003
    -0.1%
  • OTRI.USA
    21.460
    -0.150
    -0.7%
  • OTVI.USA
    15,864.700
    -50.600
    -0.3%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
  • ITVI.USA
    15,859.850
    -49.550
    -0.3%
  • OTLT.USA
    2.773
    -0.003
    -0.1%
  • OTRI.USA
    21.460
    -0.150
    -0.7%
  • OTVI.USA
    15,864.700
    -50.600
    -0.3%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
American Shipper

INVESTMENTS CUT LUFTHANSA CARGO OPERATING PROFIT

INVESTMENTS CUT LUFTHANSA CARGO OPERATING PROFIT

   Lufthansa Cargo A.G. said operating profit fell 35.5 percent in fiscal year 1999, to $106.4 million marks ($49.5 million), compared with 165million marks for the year-earlier period.

   The German cargo carrier blamed the decline on a weak international economy and extensive spending on infrastructure and staffing.

   Revenue rose 5.9 percent to 4.07 billion marks ($1.89 billion), compared with 3.84 billion marks the previous year. Traffic revenue rose 6.3 percent to $4.03 billion marks ($1.87 billion).

   Operating expenses increased 7.7 percent to 4.18 billion marks ($1.94 billion). Expenses included:

   * 528.7 million marks ($245.8 million) for three new MD-11 freighters and down payments on an additional six freighters, slated to go into service in 2001.

   * 53.3 million marks ($24.8 million) for modernization of Lufthansa Cargo’s information technology.

   * A 3.9-percent expansion of the company’s staffing.

   The company said it will continue its “evolution into an integrated logistics services provider” in fiscal 2000. Lufthansa Cargo expects to expand its time-definite services network to 200 locations during the first quarter of the new fiscal year.

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