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Lufthansa Cargo Reports Record Financial Result for Second Year in a Row

For the financial year 2021, Lufthansa Cargo reported an adjusted EBIT of €1.49 billion on revenue of €3.80 billion, the best result in the company’s history. During the year, the carrier sold a total of 7.2 billion freight ton kilometers with an average load factor of 71 percent.

Lufthansa Cargo Reports Record FY 2021 Financial Results (D-ALFF Pictured) - Courtesy Lufthansa Cargo

On Thursday (March 3, 2022), Lufthansa Cargo reported their financial results for the financial year 2021 with a record result for the second year running. For 2021, the carrier reported an adjusted EBIT of €1.493 billion on revenue of €3.80 billion, compared to an adjusted EBIT of €772 million on €2.76 billion in revenue for 2020. During FY 2021, Lufthansa Cargo sold a total of 7.2 billion freight ton kilometers (FTKs), compared to €6.5 billion in the previous year, with an average load factor improvement of 1.7 points to 71.0 percent. Capacity for 2021 increased year-over-year by 9.7 percent to 10.1 billion FTKs.

In Thursday’s announcment, Lufthansa Cargo’s Chairman of the Executive Board, Dorothea von Boxberg, said,

“We owe this result in particular to our employees, customers and partners. Together, we have managed to effectively maintain global supply chains even in times of pandemic. In addition to good revenues, the successful completion of our cost reduction program was a key factor in the good result. In 2022, we will continue to invest in customer focus, airfreight innovation and sustainability.

“In 2022, Lufthansa Cargo will focus on sustainability and the ongoing decarbonization of airfreight logistics. We are pleased to welcome numerous interested parties to our sustainable aviation fuel offerings and aim to expand the use of sustainable aviation fuels with various customers. In 2022, we will also begin to equip our freighters with Sharkskin technology, which will help us save fuel. In the area of digitalization, we are working at full speed to convert to fully electronic air waybills, among other things.

“The issue of scarce capacity will continue to occupy us and our customers this year. With the marketing of the capacities of our first A321 freighter, which has just started, we want to offer customers new options for the ever-growing e-commerce sector, especially in the medium-haul segment. In addition, belly capacities on Lufthansa Group airlines will again increase significantly this year. We are currently examining further options to increase our capacity offering. At present, however, we also see that the situation in airfreight remains dynamic and that we have to react to developments on the world market at short notice and remain flexible.”

With revenue of €3.8 billion and 7.2 billion freight ton kilometers in 2021, Lufthansa Cargo is one of the world’s leading air freight companies, employing approximately 4,400 team members worldwide. The cargo carrier serves around 300 destinations in over 100 countries with a dedicated fleet of freighters, as well as belly-hold cargo capacity of passenger aircraft operated by Lufthansa German Airlines, Austrian Airlines, Brussels Airlines, Eurowings Discover and SunExpress. Lufthansa Cargo also operates an extensive road feeder service network. Lufthansa Cargo is a wholly-owned subsidiary of Deutsche Lufthansa AG and is the Group’s logistics specialist.

Source: Lufthansa Cargo/Mynewsdesk


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