Cargolux again improves performance
The Cargolux Group achieved its best year on record in 2021:
1) revenues: USD 4.4 billion, an increase of 40% over 2020.
2) ebit: USD 1.72 billion (+73%).
3) profit before tax: USD 1.7 billion (+94%).
4) profit after tax: USD 1.3 billion (+68%).
The increase in financial performance was driven by an increase in tonnage, though 2021 was more challenging, operationally, than 2020, and higher yields. This allowed the group to further strengthen its balance sheet, particularly by building up its cash reserves.
2021 again highlighted the importance of the air cargo industry and Cargolux’s capacity to adapt to unforeseen circumstances. The carrier consolidated its position as a major industry player ranking in fit in Iata’s top 20 cargo carriers based on international scheduled freight tonne kilometres flown. (ah)