An exceptional year for Cargolux
With 1.1 million t of freight sold in 2020 (+9.7% yoy), the year of its 50th anniversary proved to be exceptional for the Cargolux Group. The airline earned a net profit after tax of USD 768.7 million (2019: USD 20 million) with an ebit margin of 31.3%. With a flexible fleet of 30 B747F, Cargolux is currently ranked fourth in Iata’s ranking of the world’s top 25 international scheduled cargo carriers.
Looking forward, the company says that "the Covid-19 pandemic is still not behind us and much uncertainty remains as to the evolution of the virus and the pace and effectiveness of vaccination programmes. This development would indicate that the supply chain will continue to need to rely on freighters to keep logistics chains running as the majority of long-haul passenger aircraft remain grounded." (ah)