Tag Archives: Cargolux Airlines International Luxembourg

Cargolux and NCA sign a cooperative agreement

Cargolux's "You name it, we fly it" logo jet

Cargolux has announces it has signed a cooperation agreement with Nippon Cargo Airlines (NCA) that allows both partners access to each other’s capacity through code – share and space swap agreements. Cargolux now has access to NCA’s flights f rom Frankfurt Hahn to Tokyo (Narita) while NCA has access to Cargolux’s flights from Luxembourg to Narita. This is a major milestone in Cargolux’s operations to Japan , which, traditionally, has been an important market for Cargolux .

Cargolux Italia Boeing 747-4R7F LX-TCV (msn 30401) AMS (Ton Jochems). Image: 926118.

Above Copyright Photo: Cargolux Italia Boeing 747-4R7F LX-TCV (msn 30401) AMS (Ton Jochems). Image: 926118.

Cargolux Italia:

As per this agreement Cargolux plans to operate a weekly flight from Luxembourg to Tokyo Narita. Cargolux Italia (above) will stop its operations to Narita but will maintain its services to Osaka (Kansai). The code – share operation is planned to start with the summer season 2018. Both airlines consider the agreement as a first step towards a potentially deeper cooperation.

In addition to this opportunity to develop its activity at Narita, Cargolux also intends to further develope its operations through Komatsu. Together with Cargolux Italia’s operations to Osaka, Cargolux is well placed to provide its customers with comprehensive services to and from Japan.

Top Copyright Photo: Cargolux Airlines International (Luxembourg) Boeing 747-8R7F LX-VCM (msn 61169) (You name it, we fly it) ANC (Michael B. Ing). Image: 932973.

Cargolux:

NCA:

Bottom Copyright Photo: NCA-Nippon Cargo Airlines Boeing 747-8KZF JA13KZ (msn 36138) LAX (Michael B. Ing). Image: 909961.

NCA-Nippon Cargo Airlines Boeing 747-8KZF JA13KZ (msn 36138) LAX (Michael B. Ing). Image: 909961.

Advertisements

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: