Sharply lower yields due to excess capacity from passenger flights combined with higher costs led to an 86% plunge in Lufthansa Cargo’s operating profit in 2023, underscoring how challenging the year was for the entire air logistics industry.
Lufthansa Group (DXE: LHA) on Wednesday reported its third best financial results in history, but the cargo subsidiary was battered by lower demand and rates as the global economy returned to more normal patterns following the COVID crisis. With more...
https://www.freightwaves.com/news/lufthansa-cargo-profit-tumbled-86-last-year