Cargolux Press Relase 17APR02
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Cargolux Press Relase 17APR02
Following press release went out yesterday:
Q U O T E
Cargolux Remains Profitable In A Tough Environment
Cargolux Airlines announced a net profit of US$ 15.4 million for the year 2001 during its annual press conference today. Operating profit was US$ 22.3 million (-38.25%) on revenues of US$ 731.1 million (-1.75%).
The year 2001 was marked by a worldwide recession and the events of 11 September. For Cargolux, the year started with an exceptionally strong first quarter and was followed by a sharp decline in trading conditions beginning in April. The following five months were dominated by declining load factors and yields on one hand and high fuel prices on the other. In early September, the whole industry was thrown into turmoil by the terrorist attacks in America. Nevertheless, the subsequent reductions in belly capacity by passenger carriers had a positive impact on the company's load factors and yields and Cargolux closed the year with a satisfactory fourth quarter. As an all-cargo carrier, Cargolux could respond quicker to changing market needs than traditional combination carriers.
In 2001, the industry recorded a reduction of about 8% in freight tonne-kilometers (FTK) flown. In contrast, Cargolux flew 3,768 million FTKs, 1.2% lower than last year, but less than the average decline for the industry worldwide. It carried 433,096 tonnes of freight. The company?s aircraft recorded an average daily utilization of 15:25 hours.
Cargolux made numerous network adjustment last year to improve services for its customers. The company added new destinations, such as Baku in Azerbaijan, Calgary and Manila. It increased flights to Portland, Shanghai and Johannesburg. Additional services to the Gulf region boosted Cargolux's Middle Eastern network. The company gained access to new or increased traffic rights and was able to serve its customers even better in the related markets. For example, the company acquired authority to take connecting traffic through Hong Kong and to operate under open skies treaties in Malaysia and Chile.
The company added one B747-400F to its fleet in August. It now uses 11 B747-400 freighters and 20 trucking contractors to move valuable and time-sensitive commodities between 91 destinations, 49 served by aircraft and 42 by truck.
In 2001, Cargolux contributed nearly EUR 227 million to the Luxembourg economy in salaries and other employee benefits, social security, taxes and the purchase of goods and services. It employed 1,411 staff worldwide at the end of the year. With help from the Luxembourg Airport Authority and Boeing, Cargolux introduced procedures to reduce the environmental impact of its six to eight average daily flight movements in Luxembourg. These new procedures result in reduced noise and engine emissions and lower fuel consumption. The company plans to adopt additional measures during 2002. They include using a takeoff and landing pattern that avoids overflying the city of Luxembourg, landing further down the runway in order to fly higher and more quietly over the city and reducing takeoff power at a lower altitude to reduce noise.
U N Q U O T E
more info can be found under http://www.cargolux.com
See ya
Q U O T E
Cargolux Remains Profitable In A Tough Environment
Cargolux Airlines announced a net profit of US$ 15.4 million for the year 2001 during its annual press conference today. Operating profit was US$ 22.3 million (-38.25%) on revenues of US$ 731.1 million (-1.75%).
The year 2001 was marked by a worldwide recession and the events of 11 September. For Cargolux, the year started with an exceptionally strong first quarter and was followed by a sharp decline in trading conditions beginning in April. The following five months were dominated by declining load factors and yields on one hand and high fuel prices on the other. In early September, the whole industry was thrown into turmoil by the terrorist attacks in America. Nevertheless, the subsequent reductions in belly capacity by passenger carriers had a positive impact on the company's load factors and yields and Cargolux closed the year with a satisfactory fourth quarter. As an all-cargo carrier, Cargolux could respond quicker to changing market needs than traditional combination carriers.
In 2001, the industry recorded a reduction of about 8% in freight tonne-kilometers (FTK) flown. In contrast, Cargolux flew 3,768 million FTKs, 1.2% lower than last year, but less than the average decline for the industry worldwide. It carried 433,096 tonnes of freight. The company?s aircraft recorded an average daily utilization of 15:25 hours.
Cargolux made numerous network adjustment last year to improve services for its customers. The company added new destinations, such as Baku in Azerbaijan, Calgary and Manila. It increased flights to Portland, Shanghai and Johannesburg. Additional services to the Gulf region boosted Cargolux's Middle Eastern network. The company gained access to new or increased traffic rights and was able to serve its customers even better in the related markets. For example, the company acquired authority to take connecting traffic through Hong Kong and to operate under open skies treaties in Malaysia and Chile.
The company added one B747-400F to its fleet in August. It now uses 11 B747-400 freighters and 20 trucking contractors to move valuable and time-sensitive commodities between 91 destinations, 49 served by aircraft and 42 by truck.
In 2001, Cargolux contributed nearly EUR 227 million to the Luxembourg economy in salaries and other employee benefits, social security, taxes and the purchase of goods and services. It employed 1,411 staff worldwide at the end of the year. With help from the Luxembourg Airport Authority and Boeing, Cargolux introduced procedures to reduce the environmental impact of its six to eight average daily flight movements in Luxembourg. These new procedures result in reduced noise and engine emissions and lower fuel consumption. The company plans to adopt additional measures during 2002. They include using a takeoff and landing pattern that avoids overflying the city of Luxembourg, landing further down the runway in order to fly higher and more quietly over the city and reducing takeoff power at a lower altitude to reduce noise.
U N Q U O T E
more info can be found under http://www.cargolux.com
See ya
