Lufthansa Cargo delivers record result for third year running

A Lufthansa Cargo freighter is loaded on the ramp.
Photo Credit: Lufthansa Cargo

In its published financials for 2022, Lufthansa Cargo has once again exceeded its results from the previous year. It is a record result for the third consecutive year for the cargo operation.

The carrier’s revenue rose by 22 percent to 4.6 billion euros in 2022 (2021: 3.8 billion euros), while adjusted EBIT amounted to 1.6 billion euros (2021: 1.5 billion euros).

Overall, sales of 7.2 billion freight ton kilometers were similar compared to the previous year (7.2 billion).

Average capacity utilization decreased by 9.9 percentage points year-on-year to 61.1 percent, while the supply of capacity increased by 17 percent to 11.8 billion freight ton kilometers offered.

“In the past fiscal year, we achieved a record result for the third time in a row. We owe this to the high level of commitment of our employees and the trust of our customers and partners.”

“In addition, we again had significantly more capacity in the market due to the growth in long-haul passenger traffic.”

“We notice that our customers continue to serve their global supply chains. With more freighters and more bellies, we will continue to be a strong and reliable partner for our customers,” said Dorothea von Boxberg, Chairperson of the Executive Board and CEO of Lufthansa Cargo.

The recovery phase

While the flight program of passenger airlines was suspended or maintained only on a small scale during the Corona virus pandemic, numerous cargo capacities in the bellies of these aircraft were temporarily unavailable for the transport of goods.

With the resumption of numerous passenger flights, both capacity and route offerings expanded. This strong growth trend in the belly segment continues today and now accounts for around half of Lufthansa Cargo’s transport capacities.

In the 2023 summer flight schedule alone, cargo will be regularly transported on more than 7,000 flights a week operated by Lufthansa, Austrian Airlines, Brussels Airlines, Eurowings Discover and SunExpress.

Approaching 2023 with confidence

Building on three consecutive years of success, the carrier’s outlook for the current year is clearly positive.

“We are looking ahead to the fiscal year of 2023 with confidence. The environment remains dynamic. But we are convinced that we are excellently positioned and can respond flexibly and quickly to changes in the market.”

“We are consistently pursuing our successful strategy. We are expanding our digital services and offering our customers more and more sustainable solutions. We will also be successful in 2023,” adds Dorothea von Boxberg.

2022 fleet investments

Lufthansa Cargo’s fiscal year 2022 was marked by ground-breaking investmentsto expand the freighter fleet. It currently consists of 16 Boeing 777Fs and two Airbus A321Fs.

To further expand the capacity of its long-haul fleet, Lufthansa Cargo is relying on Boeing’s efficient twin-aisle aircraft and ordered three B777Fs of the current technology and seven B777-8Fs of the next Boeing freighter generation.

One B777F has already been delivered in the past fiscal year, enabling Lufthansa Cargo to increase frequencies to high-demand intercontinental destinations such as in China and India and to open a new freighter station in Hanoi, Vietnam.

Alongside North and South America, the Asia-Pacific region is one of Lufthansa Cargo’s strongest markets.

With the additional entry into service of two Airbus freighters of the type A321F in 2022, Lufthansa Cargo was able for the first time to offer fast transport solutions on short and medium-haul routes for customers from the rapidly growing eCommerce segment.

Two additional Airbus freighters will supplement the fleet from summer 2023, increasing capacities on intra-European routes.

By Len Varley - Assistant Editor 4 Min Read
4 Min Read
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