newstodate.aero
APR 21, 2004 (newstodate): As Cargolux prepares to take over its 13th Boeing 747-400F tomorrow, April 22, Cargolux has today closed the books of 2003, ending with record profits topping the preceding year's performance.
The company's operating profits rose from USD 55.6 million in 2002 to USD 64.9 million, and net profits increased to USD 70.9 million in 2003.
The company's production, in RTKs, went up 6.5 percent compared to an industrial average at 4.8 percent, securing a No 3 position for Cargolux among Europe's top carriers, and an unchanged No 1 position as the biggest all-cargo airline.
As expected, the increase is driven mainly by Asia, followed by positive growth in the US market, a weak South America, and a Europe in the balance.
-However, risk factors for 2004 remain, including high fuel prices, overcapacity in certain markets, and imbalances on certain routes, the company says while stressing that so far 2004 has produced results to indicate another strong year for Cargolux.
The company's operating profits rose from USD 55.6 million in 2002 to USD 64.9 million, and net profits increased to USD 70.9 million in 2003.
The company's production, in RTKs, went up 6.5 percent compared to an industrial average at 4.8 percent, securing a No 3 position for Cargolux among Europe's top carriers, and an unchanged No 1 position as the biggest all-cargo airline.
As expected, the increase is driven mainly by Asia, followed by positive growth in the US market, a weak South America, and a Europe in the balance.
-However, risk factors for 2004 remain, including high fuel prices, overcapacity in certain markets, and imbalances on certain routes, the company says while stressing that so far 2004 has produced results to indicate another strong year for Cargolux.