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Record month for Cargolux
Economics

Record month for Cargolux

11.12.2013 From our online archive
Luxembourg freight airline Cargolux in November reached a record tonnage and revenue, benefitting from its worldwide network and improvements in the global market.

(CS) Luxembourg freight airline Cargolux in November reached a record tonnage and revenue, benefitting from its worldwide network and improvements in the global market.

Speaking of “unprecedented tonnage”, Cargolux said in an official statement that it had carried over 74,000 tonnes of freight in November on its global network, an increase of 27 percent compared to the same month last year.

Combined with revenues of over 200 million USD, this makes November “the best month in the history of Cargolux,” the airline said.

Especially the Asian routes and flights to Hong Kong contributed to this rise in activity, with November marking an industry peak period.

At the same time the global freight market eased, with the International Air Transport Association (IATA) saying that, globally, there was a 4 percent Freight-Tonne-Kilometre (FTK) growth year-on-year in October.

For the year until the end of October, Cargolux has so far shown FTK growth of over 15 percent.

This should be good news for Chinese investor group HNCA, which is looking to buy the 35 percent minority share formerly owned by Qatar Airways.

The Luxembourg government has already green-lighted the deal, but no timeline for the acquisition has so far been given.