Lufthansa Cargo Achieves Record Results Again

Adjusted EBIT of 1.493 billion euros, revenue of 3.80 billion euros. Lufthansa Cargo makes an important contribution to stabilizing the Lufthansa Group – The modernization of the long-haul fleet completed in 2021 and the use of sustainable aviation fuels enable a significant reduction in the CO2 footprint.

(Frankfurt/Main) Lufthansa Cargo achieved the best results in its history in the 2021 financial year. Revenue rose to 3.80 billion euros (previous year: 2.76 billion euros), and the adjusted EBIT amounts to 1.493 billion euros (previous year: 772 million euros). A total of 7.2 billion freight ton-kilometers were transported last year (previous year: 6.5 billion). The average load factor improved by 1.7 percentage points compared to the previous year to 71.0 percent, while capacity offered increased by 8.7 percent to 10.1 billion offered freight ton-kilometers.

“We owe this result particularly to our employees, customers, and partners. Together, we have managed to effectively maintain global supply chains even during the pandemic. In addition to good revenues, the successful completion of our cost reduction program was crucial for this positive result. In 2022, we will continue to invest in customer orientation, air freight innovations, and sustainability,” said Dorothea von Boxberg, CEO of Lufthansa Cargo.

“2022 will continue to focus on sustainability at Lufthansa Cargo. This year, we are committed to the continuous decarbonization of air freight logistics. We are pleased about the numerous interested parties in our offerings related to Sustainable Aviation Fuel and aim to expand the use of sustainable aviation fuels with various customers. In 2022, we will also begin equipping our freighters with Sharkskin technology, which helps us save fuel. In the area of digitization, we are working intensively on the transition to fully electronic air waybills.”

Challenges in Logistics Will Remain

Dorothea von Boxberg also prepares customers for ongoing challenges in logistics: “The issue of tight capacities will continue to concern us and our customers this year. With the recently launched marketing of the capacities of our first A321 freighter, we want to offer customers new options in the medium-haul segment for the ever-growing e-commerce sector. Additionally, belly capacities on the airlines of the Lufthansa Group will significantly increase again this year. We are currently examining further options to enhance our capacity offerings. However, we also see that the situation in air freight remains dynamic and we must respond quickly to developments in the global market and remain flexible.”

Important Projects Implemented

Last year, Lufthansa Cargo successfully implemented important projects from its corporate strategy. The fleet modernization was completed with a pure, highly efficient B777F freighter fleet. This currently includes fifteen aircraft, two of which were newly added last year. The twin-engine Boeing 777F is considered the most efficient and modern freighter in its class. Additionally, Lufthansa Cargo markets the cargo capacities of Lufthansa, Austrian Airlines, Brussels Airlines, Eurowings Discover, and SunExpress. Furthermore, sustainable aviation fuels were a focus for Lufthansa Cargo in 2021: In addition to weekly CO2-neutral freight operations between Europe and Asia, customers have been able to use the add-on service “Sustainable Choice” since last summer to transport their freight CO2-neutrally. Moreover, Lufthansa Cargo became a pilot customer for the first industrial Power-to-Liquid (PtL) facility to promote the development and research of synthetic PtL aviation fuel.

Air Freight Capacities Remained Tight Worldwide

Lufthansa Cargo started the past financial year with positive expectations. Due to the ongoing effects of the pandemic, freight capacities remained tight worldwide despite increased demand. Characterized by a noticeable cooling of the air freight market before the corona pandemic, the cargo airline had already launched a structural cost reduction program in 2019, which also contributes to the current results.

Photo: © Lufthansa Cargo