All-cargo airline Cargolux has seen an increase in both its revenue and profit for its 2024 financial year, despite ongoing geopolitical obstacles to contend with.
The company registered revenues of USD3.32 billion, an 11.4 percent increase on its 2023 financial year (USD2.98 billion), meanwhile profit increased 56.6 percent from USD286 million in for the 2023 financial year to USD448 million for 2024.
“Our agile approach to business, and our people’s commitment to service excellence enabled Cargolux to swiftly adapt to changing market dynamics, securing yet another remarkable year”, said Richard Forson, president and ceo of Cargolux.
Like last year, Cargolux has once again pointed to geopolitical tensions – namely the ongoing war in Ukraine and conflicts in the Middle East – as having a part to play in its operations. However, the airline highlights that a global demand for e-commerce shipments led to a notable capacity shift to Asia and, ultimately, contributed to its strong volume figures.
Looking ahead, Cargolux has stressed that “the global economic landscape is presently highly volatile,” referencing not only Ukraine and the Middle East, but also the US import tariffs along with stricter regulatory pressures set out by the European Union. These factors, it posits, will have a part to play for not only its operations in 2025, but the airfreight sector more broadly.
In December 2024, HLPFI reported that Cargolux had joined the cargo.one, CargoAi and WebCargo digital marketplaces.
