Despite quake, tsunami, Japan air cargo holds up: Lufthansa Cargo

LUFTHANSA Cargo has not seen "any dramatic decline in freight being loaded" in Japan despite the earthquake and tsunami earlier this month, according to its chief executive Karl Ulrich Garnadt.


Reuters said the carrier also reported a good start to the year, with stable earnings from the business unit, particularly, as freighter plane capacity is said to be in scarce supply across the industry.


"We can certainly expect a good first quarter," the company's chief financial officer Peter Gerber was quoted as saying.


The report added that Lufthansa earlier announced it anticipates its cargo division will register an operating profit for 2011. However, the figure is expected to be lower than 2010's record result when the company ended the year with an operating profit of EUR310 million (US$439.2 million).
(Source:http://www.schednet.com)