Tag Archives: Cargolux (Luxembourg)

Cargolux takes delivery of its 30th direct delivery Boeing 747, adds a special decal in honor of Joe Sutter

Cargolux 747-8F Delivery Honors Joe Sutter

Boeing (Chicago, Seattle and Charleston) and Cargolux Airlines (Luxembourg) are celebrating the 30th direct delivery of a 747 Freighter to the Luxembourg-based cargo carrier. To mark the occasion, Cargolux’s latest 747-8 Freighter carries a special decal of the “Father of the Boeing 747,” Joe Sutter, the Boeing engineer who led the team that designed the airplane.

Cargolux 747-8F Delivery Honors Joe Sutter

Photos Above: Boeing. The pictured Boeing 747-8R7F LX-VCL (msn 35823) with the special Joe Sutter emblem on the nose was officially handed over to the carrier on March 5.

Video Below: Interview with Joe Sutter.

This latest delivery was the 12th 747-8 Freighter to join Cargolux’s fleet, with the Luxembourg carrier becoming the world’s first operator of the airplane type in October 2011. Prior to the introduction of the 747-8 Freighter, Cargolux took delivery of the first of two 747-200 Freighters in 1979 and in 1993 also became the world’s first operator of the 747-400 Freighter, taking a total of 16 747-400 Freighters.

In January 2015, Cargolux began operations to Manaus Airport in Brazil with a 747-8 Freighter carrying a full load of machinery spare parts and telecommunications equipment. In the process, Manaus Airport became the 100th commercial airport that Cargolux serves with the 747-8 Freighter, underlining the airplane’s incredible versatility in the world cargo market.

Cargolux currently has two unfilled orders for 747-8 Freighters, with the all-Boeing carrier operating a fleet composed entirely of 747-400 Freighters and 747-8 Freighters.

Cargolux aircraft slide show: AG Airline Slide Show

Cargolux improves with a net profit of $8.4 million in 2013

Cargolux Airlines International (Luxembourg) at its annual general meeting, the shareholders of Cargolux Airlines International S.A. approved the audited financial statements for the financial year ended on December 31, 2013.

2013 Highlights

Cargolux earned a full year net profit of US$ 8.4 million compared to US$ 35.1 million net loss in 2012;

Total revenues rose 14.4% to US$ 1,988.5 million from US$ 1,738.9 million in 2012.
Key Performance Indicators:

Tons sold increased 16.7% to 753,848 from 645,759 in 2012;

Average load factor softened 0.9 percentage points to 67.7%;

FTK strengthened to 5.7 million compared to 4.8 million in 2012;

Daily aircraft utilization stood at 14:57 block hours versus 15:07 in 2012.

In spite of a moderate recovery in the last quarter, the airfreight industry continued to operate in a difficult environment for the most part of 2013. Capacity growth still outstripped demand, which resulted in an industry-wide decline in yields and load factors. Despite difficult trading conditions, Cargolux grew its activities and increased volumes in a bid to maximize contribution to fixed costs. This was achieved quite successfully, as the company recorded a tonnage growth of 16.7% over 2012 to 753,848 tons – exceeding the 2013 budget by 13.5%. Total revenues grew by 14.4% to $1,988.5 million (US) while tons-kilometers flown increased from 4.8 million in 2012 to 5.7 million in 2013.

Cargolux operated 95,022 block hours, 13,364 hours more than planned for 2013. The high amount of operational activity contributed towards achieving a net consolidated gain of $8.4 million (US), a noteworthy improvement over the originally budgeted loss for 2013 of $27.1 million (US).

Cargolux expanded its fleet with three new Boeing 747-8Fs and retained, on a power-by-the-hour basis, a Boeing 747-400F that was initially planned to exit the fleet during 2013. It also added a Boeing 747-400ERF on the same basis, which brought the fleet to 20 aircraft at the end of the year. In contrast, the budget for 2013 foresaw a fleet of 16 aircraft only.

With a bigger fleet and more operational activity than planned, Cargolux recorded an average daily aircraft utilization of 14:57 hours. The company’s market share reached 3.5% and it ranked at number 8 among the world’s dedicated freighter and combination carriers in terms of FTKs.

“We don’t expect market conditions to improve significantly in 2014,” said Cargolux President and CEO Dirk Reich. “Our priority is to grow and expand our global network with the continued support and valuable contribution of our hard working employees while focusing on efficiency and performance improvements. I am also confident in our ability to reap the first tangible rewards from the cooperation with our new shareholder HNCA”, Reich added.

Copyright Photo: Karl Cornil/AirlinersGallery.com. Boeing 747-8R7F LX-VCG (msn 35812) taxies past the camera at Amsterdam.

Cargolux Aircraft Slide Show: CLICK HERE

Cargolux to launch cargo flights to Bamako, Mali

Cargolux Airlines International S.A. (Luxembourg) has announced the launch of a weekly service to Bamako, the capital of Mali, from December 5, 2013. The flights are operated with the airline’s Boeing 747 freighters which offer main deck capacity for the transport of airfreight supplies that support the local industries in the areas of natural resources, telecommunications, healthcare and pharmaceutical products, perishables and general appliances.

In 2010, Bamako Airport inaugurated a new cargo terminal with a yearly capacity of 10,000 tons and extended the runway to 3,180 meters, enabling the operation of large aircraft, such as Cargolux’s 747 freighters.

Flight CV 7124 is operated every Thursday on the routing Luxembourg – Bamako – Lagos – Libreville – Nairobi – Manston – Luxembourg. Departure in Luxembourg is scheduled for 16.30 GMT with arrival in Bamako at 21:40 GMT. With this service, Cargolux connects another African destination to its worldwide network and offers shippers fast and reliable airfreight solutions to a market with growing importance.

Cargolux’s African network now covers 13 destinations that show promising export potential with strong shipments for the oil and gas industry. Cargolux also offers direct services between the United States and Africa.

Previously the cargo carrier started weekly service to Buenos Aires via Campinas (Viracopas) near Sao Paulo on November 13.

Copyright Photo: TMK Photography/AirlinersGallery.com. Boeing 747-4R7F LX-VCV (msn 34235) approaches Johannesburg for landing.

Cargolux: AG Slide Show

Cargolux launches Atlanta-Munich cargo service via Luxembourg

Cargolux Airlines International (Luxembourg) on June 3 launched a new service between Atlanta and Munich via Luxembourg. The new weekly cargo route with be operated with Boeing 747-400F freighters.

The airline issued this statement:

Cargolux Airlines International S.A. on June 4 announced the introduction of a regular service between Atlanta and Munich via Luxembourg. Starting on June 3, 2013, at the eve of the Air Cargo Munich Exhibition and Conference, the latest addition to Cargolux’s expanding network of worldwide destinations will be served every Monday with a Boeing 747-400 Freighter.

The main import customer for the new Cargolux service is the German freight forwarder Senator International Spedition GmbH, a leading international freight forwarding company specialized in international freight, shipping, packaging and logistics. ‘Cargolux is a trusted and reliable partner who supports us in delivering first class global logistics services to our own customers. The Cargolux network offers us a wide array of options to accommodate with this weekly operation’, said Tim-Oliver Kirschbaum, CEO of Senator International based at the company’s headquarters in Hamburg.

While Cargolux has previously flown a number of charter flights from the Bavarian capital, this is the airline’s first regular airfreight service to and from Munich. Until now, the airline has relied on its trucking services to transport freight between its Luxembourg hub and Munich and earmarked for farther connections within its worldwide network.

Copyright Photo: Jens Polster/AirlinersGallery.com. Boeing 747-4R7F LX-SCV (msn 29733) arrives at Bangkok.

Cargolux: AG Slide Show

Cargolux loses $35.1 million in 2012

Cargolux Airlines International (Luxembourg) issued its financial statement for 2012:

At the April 24 annual General Meeting, the shareholders of Cargolux Airlines International S.A. approved the audited Financial Statements for the financial year ended December 31, 2012.

The steep decline in air cargo markets at the end of 2011 continued into 2012 not only for Cargolux, but for the industry as a whole. Depressed demand coupled with continued overcapacity resulted in significant pressure on yields and load factors for all freight operators.

Despite an improvement in late 2012, Cargolux recorded an overall loss of $35.1 million on revenues of $1,738.9 million. This loss, however, is markedly lower than the $57.0 million loss budgeted by the airline for the 2012. With the improvement in demand experienced in the last quarter of 2012 and the positive volume growth experienced by the airline for the first quarter of 2013 versus 2012, Cargolux remains cautiously optimistic for the current year. ‘Considering the state of the industry and the economic difficulties worldwide, Cargolux fared better than anticipated in 2012, that gives me hope for the current year,’ said Paul Helminger, Chairman of the Board of Directors.

In 2012, Cargolux carried 645,759 tons of cargo on its worldwide network. The fleet consisted of a mix of Boeing 747-400 and 747-8 freighters. With the new 747-8F gradually replacing the 747-400F, the airline operated eleven 747-400F and six 747-8F at the end of December 2012. Four Boeing 747-8 freighters joined the fleet during the year and additional deliveries are expected in 2013. In total, Cargolux will receive 13 units of the advanced freighter.

Cargolux has implemented a new business plan designed to ensure the long-term sustainability of the airline with a return to profitability in 2014.

Copyright Photo: Paul Denton. Boeing 747-8R7F LX-VCE (msn 35810) approaches Dubai International Airport (DXB) for landing.

Cargolux: AG Slide Show

 

Cargolux’s board adopts a new business plan

Cargolux Airlines International‘s (Luxembourg) board of directors, minus Qatar Airways, has adopted a new business plan. The company issued the following statement:

The Board of Directors of Cargolux Airlines International S.A. has approved the airline’s business plan for the period from 2013 to 2017. The plan is designed to achieve profitable growth, enhance shareholder value and ensure the long-term sustainability of Cargolux. In the same context, the Board of Directors further resolved to request the shareholders of Cargolux to commit additional liquidity to the airline, with a first tranche of $100 million (US) requested for the first quarter of 2013 in the form of a convertible loan. Both decisions enhance the government’s position in the ongoing discussions with potential new shareholders.

‘This is an important milestone for Cargolux in securing its sustainability. Going forward, all stakeholders will need to contribute their part to ensure this plan’s success. I am confident in the leadership team’s ability to execute it together with the airline’s highly skilled and dedicated employees,’ said Paul Helminger, Chairman of the Board of Directors.

Commenting on the business plan, Richard Forson, Interim President and CEO, said: ‘We have a clear vision for the future which is founded on the strengths of the Cargolux business model. By continuing to put customers first while further improving our flexibility and resilience, this business plan will help us meet the challenges ahead and ensure that Cargolux remains a relevant player in the long run’.

The business plan optimizes and builds on the proven Cargolux business model with the aim to:

– retain the single fleet philosophy and leverage the improved efficiency of the Boeing 747-8 freighter
– pursue profitable, moderate fleet growth and optimize daily fleet utilization
– achieve permanent efficiency gains and increased levels of flexibility in terms of cost and capacity; involving a range of measures including amendments to the Collective Work Agreement
– enhance growth and cost competitiveness and return to profitability in 2014

The 2013-2017 business plan is the result of an extensive evaluation by management of the airline’s business model, fleet structure, route network, customer base and future growth opportunities and takes account of different air freight market scenarios and macroeconomic developments.

Copyright Photo: Stephen Tornblom. Boeing 747-8R7F LX-VCD (msn 35809) taxies to the runway at New York’s JFK International Airport.

Cargolux logo

Cargolux Airlines International: AG Slide Show

Cargolux and Qatar Airways to go their separate ways

Cargolux Airlines International‘s (Luxembourg) and Qatar Airways‘ (Doha) officials met yesterday to discuss a new strategy and direction for the cargo airline. The two parties could not agree on the future direction of the company according to this report by Reuters. As a result, Qatar will sell its 35 percent share in Cargolux.

Read the full report: CLICK HERE

Copyright Photo: Tony Storck. Cargolux’s Boeing 747-8R7F LX-VCD (msn 35809) climbs powerfully away from the runway at Miami International Airport.

Cargolux: 

Qatar Airways: