Lufthansa Cargo 2010 net profit beats record at US$434 million

GERMANY's Lufthansa Cargo has reported net profits of US$434 million in 2010, up from a net loss of $239 million in 2009 doubling its previous record and drawn on revenue just short of 2008 level by $100 million to $3.9 billion.


Freight traffic for the year was boosted by Asia-Pacific, generating 50 per cent of revenue and the Americas at 34 per cent. Overall cargo volume reached 1.8 million tonnes, an 18.2 per cent increase compared to 2009.


Freight revenue leapt 19.9 per cent year on year on a 7.6 per cent spurt in capacity, improving the load factor by 7.6 per cent to 70.9 per cent.


Despite the record performance and turnaround after 2009 slump, the German carrier expects "substantially positive" operating result into 2011.


It has ordered five Boeing 777 freighters to join its reactivated fleet of MD-11 freighters in 2013, boosting a total order for the parent group of 35 new passenger jets.
(Source:http://www.schednet.com)