10 Juli 2014

[100714.EN.AIR] Lufthansa Cargo's 70pc Load Factor Tops Rival Air Freight Carriers

GERMANY's Lufthansa Cargo, Europe's leading air freight carrier, increased its load factor to more than 70 percent in the first half, well above that of its rivals. 

Thanks to disciplined capacity management, Lufthansa Cargo was one of the few cargo airlines in the world to maintain solid profitability last year, said a company statement.

The market has remained challenging in the second quarter of 2014, but Lufthansa Cargo has been able to achieve good utilisation thanks to flexible, demand-driven capacity management, said the statement.

Overall, the Lufthansa subsidiary reduced its offering in comparison with the previous year 2.1 per cent, with the sharpest decline from Africa and the Middle East.

"We're still not seeing any stable recovery in demand in global air cargo markets", said Lufthansa Cargo CEO Peter Gerber. "It's important we remain vigilant and respond quickly."

The schedule is continuously and flexibly adapted to meet current demand to ensure the profitability of the individual connections, he said.

"With four brand new Boeing 777 freighters now in use, we have even more ways of aligning our network to best meet the needs of our customers," said Mr Gerber.

Separately, Lufthansa said it may launch low-cost long-haul flights under a new brand as part of the company's new boss plan to face rival Middle East carriers and no-frills airlines, reports Reuters.

The long-haul plan would mark a big shift for the company that prides itself on being a full-service airline as well as starting on a high-risk route few others have taken.

"In other markets we believe that cost sensitivities are so high, we don't need a full-service brand," said CEO Carsten Spohr, noting that leisure travel was growing faster than business travel.

Lufthansa will expand its existing European low-cost services under a "Wings" holding group and is already growing its Germanwings brand, which operates on a cost basis that is 20 per cent lower than that of the Lufthansa brand, while Eurowings is 20 per cent below Germanwings.

Source : HKSG.

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