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Lufthansa cargo, logistics makes US$24.4 million third quarter profit
LUFTHANSA's cargo and logistics division, including Lufthansa Cargo, Jettainer, time:matters and a shareholding in AeroLogic, posted third quarter earnings before interest and tax (EBIT) of EUR21 million (US$24.4 million), a marked improvement on its loss of EUR17 million during the same quarter in 2016.
Third quarter revenue rose 17.4 per cent year on year to EUR594 million on the back of the ongoing recovery of the air cargo market, the sale of two MD-11 freighters and cost-cutting measures, reported London's Air Cargo News.
The group's overall cargo traffic rose 6.9 per cent year on year to total 2.3 billion cargo tonne kilometres (CTKs), capacity rose by the lower amount of 1.4 per cent, helping load factors increase to 67.4 per cent, up from 63.9 per cent the third quarter of 2016.
From January to September, cargo demand from the Asia Pacific region grew by 7.2 per cent to three billion CTKs, while CTKs for service to the Americas rose by 6.7 per cent to 2.8 billion, the Middle East business was up three per cent at 439 million CTKs, but routes to Europe suffered a marginal decline of 0.1 per cent to 251 million CTKs.
During the period, the airline sold two MD-11Fs and a de-commissioned MD-11F was put back into service owing to good business performance. Furthermore, the expansion of its cool centre continued to progress, and the Group introduced a road feeder service for cool cargo.
Third quarter revenue rose 17.4 per cent year on year to EUR594 million on the back of the ongoing recovery of the air cargo market, the sale of two MD-11 freighters and cost-cutting measures, reported London's Air Cargo News.
The group's overall cargo traffic rose 6.9 per cent year on year to total 2.3 billion cargo tonne kilometres (CTKs), capacity rose by the lower amount of 1.4 per cent, helping load factors increase to 67.4 per cent, up from 63.9 per cent the third quarter of 2016.
From January to September, cargo demand from the Asia Pacific region grew by 7.2 per cent to three billion CTKs, while CTKs for service to the Americas rose by 6.7 per cent to 2.8 billion, the Middle East business was up three per cent at 439 million CTKs, but routes to Europe suffered a marginal decline of 0.1 per cent to 251 million CTKs.
During the period, the airline sold two MD-11Fs and a de-commissioned MD-11F was put back into service owing to good business performance. Furthermore, the expansion of its cool centre continued to progress, and the Group introduced a road feeder service for cool cargo.
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