“A record result”: Lufthansa Cargo revenues up 11 per cent to €2.76 billion in 2020

Lufthansa Cargo
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Lufthansa Cargo has reported its best yearly financial results since it was founded in 1994.

Revenue rose by 11 per cent to €2.76 billion, while adjusted EBIT amounted to €772 million, a margin of 28 per cent.

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A total of 6.5 billion freight ton kilometres were sold last year, a decline of -27 per cent. Average load factor improved by 7.8 percentage points to 69.1 per cent, while cargo capacity shrank by 36 per cent.

“We are pleased to close what was probably the most challenging year in our company’s history with a record result,” said Lufthansa Cargo chairperson of the executive board and chief executive officer Dorothea von Boxberg.

“It is also a record in terms of the commitment and flexibility of our workforce – and we are proud of the outstanding cooperation with our long-standing partners and customers. This success enables very decisive investments in our future. We want to make airfreight sustainably better and further strengthen our home base in Frankfurt. That is why we will gradually modernise our cargo centre in the coming years and continue to drive forward digitalisation along the entire transport chain.

“This year, we will add another highly efficient Boeing 777F aircraft to our freighter fleet. In doing so, we will also secure jobs in the cockpit and in other areas.

“Now that we are optimally positioned with one of the world’s most modern freighter fleets, we will work with our customers to drive forward the regular use of sustainable fuels.”

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