Lufthansa Cargo

Lufthansa Cargo profit tumbled 86% last year

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

Spare part delays keep Lufthansa Cargo A321 freighters grounded

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Two Lufthansa Cargo narrowbody freighters remain sidelined for a third week because of technical...

https://www.freightwaves.com/news/spare-part-delays-keep-lufthansa-cargo-a321-freighters-grounded

Lufthansa Cargo profits wiped out in Q3

Operating income for Deutsche Lufthansa AG’s cargo division collapsed to near zero during a seasonally weak third quarter, and the company indicated full-year segment earnings would be similarly sour despite expectations for a slight uptick in shipment volumes during the final months of the year.

Lufthansa Cargo’s pretax profit plunged 100%, from $352 million (331 million euros) to $1 million year over year (y/y) behind a 43% drop in core transportation revenue to $771 million due to the...

https://www.freightwaves.com/news/lufthansa-cargo-profits-wiped-out-in-q3

WestJet adds new cargo route to Havana

The fledgling freighter division of Canadian airline WestJet has started flying to Havana while the more established Lufthansa Cargo has announced expansion of its new regional network in the Nordic region. Both are deploying narrowbody cargo jets.

WestJet Cargo, which launched commercial all-cargo service in April and now has four Boeing 737-800 converted freighters serving major Canadian cities as well as Miami and Los Angeles, said Wednesday it commenced weekly service from Toronto to the...

https://www.freightwaves.com/news/westjet-adds-new-cargo-route-to-havana

Lufthansa scales up cargo operations at Detroit Metro Airport

Lufthansa Cargo has relocated its cargo warehouse inside the gate at Detroit’s main airport to improve operational efficiency and support growing international volumes.

Businesses that move freight with German flag carrier Lufthansa through Detroit will save time and be able to tender a greater variety of specialty products because cargo processing has moved to an airside building from an off-airport location, eliminating the need to shuttle goods by truck.

Avflight, the local airport services...

https://www.freightwaves.com/news/lufthansa-scales-up-cargo-operations-at-detroit-metro-airport

Lufthansa Cargo profits fall by nearly half on weak shipping demand

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Operating profit at Deutsche Lufthansa AG’s cargo subsidiary plummeted 92% during the second quarter...

https://www.freightwaves.com/news/lufthansa-cargo-profits-fall-by-nearly-half-on-weak-shipping-demand

Cargo ‘combi’ carriers Korean Air, Lufthansa post lower Q1 revenues

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Sharp drops in first-quarter cargo revenue at Korean Air and Lufthansa Cargo, two of the world’s...

https://www.freightwaves.com/news/cargo-combi-carriers-korean-air-lufthansa-post-lower-q1-revenues

Lufthansa promotes marketing chief to lead cargo division

Deutsche Lufthansa AG moved quickly to fill the hole at the top of its cargo subsidiary, promoting Chief Commercial Officer Ashwin Bhat to CEO a week after reassigning Dorothea von Boxberg to lead Brussels Airlines.

Bhat will move into the new role on April 15 and continue to be responsible for product and sales, Lufthansa (DXE: LHA) announced Friday.

The corporate board said Bhat played a key role in guiding Lufthansa Cargo to record profits during the COVID crisis. Last year, Lufthansa Cargo...

https://www.freightwaves.com/news/lufthansa-promotes-marketing-chief-to-lead-cargo-division

Lufthansa moves cargo chief von Boxberg to run Brussels Airlines

Lufthansa Cargo CEO Dorothea von Boxberg is being reassigned to lead Brussels Airlines, Deutsche Lufthansa AG announced Thursday.

Von Boxberg will take over as CEO of Belgium’s national airline and Lufthansa (DXE: LHA) subsidiary on April 15.

Lufthansa Cargo CEO Dorothea von Boxberg (Photo: Lufthansa)

“With her extensive knowledge and broad understanding of cargo and passenger airlines, she will continue to drive the successful transformation of Brussels Airlines,” said Lufthansa board member...

https://www.freightwaves.com/news/lufthansa-moves-cargo-chief-von-boxberg-to-run-brussels-airlines

Lufthansa Cargo bullish on 2023 despite Ukraine war, economic slowdown

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Deutsche Lufthansa’s cargo subsidiary posted record adjusted operating income of 1.6 billion euros...

https://www.freightwaves.com/news/lufthansa-cargo-bullish-on-2023-despite-ukraine-war-economic-slowdown

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