Lufthansa Cargo’s earnings contribution to the parent group airline declined 40% to €74m in full year 2015 as seasonal “sizeable overcapacities” in the airfreight market hit load factors and yields.
In addition to the excess capacity from the beginning of the summer onwards, cargo earnings were also depressed by the strike actions at Lufthansa Passenger Airlines in the important fourth-quarter period.
Lufthansa Cargo expects to report “slightly improved earnings” for 2016, said the German flag carrier, announcing its 2015 annual results.
It is group annual report for 2015, the airline stated: “Traffic revenue in the Logistics segment was down by 3.8 per cent year on year, at €2.3bn. The decline stemmed from lower prices (–8.4%) and lower volumes (–2.9%), offset partially by positive exchange rate effects (+7.5%).”
As well as marketing the freight capacities of Lufthansa and Austrian Airlines’ passenger aircraft, Lufthansa Cargo operates its own fleet of cargo aircraft, comprising 14 Boeing MD11Fs and five B777Fs.
