Cargolux Reports Record 2021 Net Profit of $1.3 Billion on 40 Percent Increase in Revenue to $4.4 B
The Cargolux Group has reported a record annual net profit for 2021 of $1.3 billion on a 40 percent year-over-year increase in revenue to $4.4 billion. The carrier operates a fleet of 30 aircraft including sixteen Boeing 747-400 Freighters fourteen 747-8 Freighters.
On Wednesday (April 27, 2022), The Cargolux Group (Cargolux) reported their financial results for the full year ending December 31, 2021. The carrier reported a FY21 EBIT of $1.72 billion, a 73 percent year-over-year increase, and a pre-tax profit of $1.7 billion, a 94 percent increase versus FY 2020. Cargolux’s full year net profit increased year-over-year by 68 percent to $1.3 billion on a 40 percent increase in revenue to $4.4 billion. At December 31, 2021, the carrier had a fleet of 30 aircraft, including sixteen Boeing 747-400 Freighters (10 B747-400Fs and six B747-400ERFs) and fourteen Boeing 747-8 Freighters.
Cargolux is committed to environmentally sound operations and during 2021 commenced using sustainable aviation fuel (SAF). The company will invest up to $100 million in the coming years to promote the availability of SAF and for the development of new production technologies. Cargolux achieved their best carbon performance on record for 2021, with a year-over-year reduction of four percent to 0.463kg/FTK (freight ton kilometer), and down nearly seven percent versus 2019. The carrier continues to consolidate their position as a leading industry player, ranking fifth in IATA’s top 20 carriers based on international FTKs flown.
Luxembourg-based Cargolux is Europe’s leading all-cargo airline and operates a fleet of 30 Boeing 747-8 and 747-400 Freighters. The carrier’s worldwide network includes over 75 destinations on scheduled all-cargo and charter flights. Cargolux has more than 85 offices in over 50 countries and also operates an extensive global trucking network that serves more than 250 destinations. The Cargolux Group employs over 2,500 team members worldwide.