Anecdotal reports from forwarders that Lufthansa Cargo has been offering below-market rates in an attempt to boost volumes are supported by the carrier’s poor first-half results.
Lufthansa’s logistics business shows revenue down 5% to €1.23bn ($1.37bn), while operating expenses rose 6% to €1.28bn, resulting in a 93% fall in ebit to just €9m. Adjusted ebit fell 88%.
Capacity, meanwhile, measured in available cargo tonne km, rose 9%. Load factors fell 6.1 percentage points.
Its biggest problems were in Asia Pacific, where Lufthansa Cargo’s …
The post Lufthansa Cargo shuffles freighter fleet as weak market hits H1 results appeared first on The Loadstar.
Source: The Loadstar