LONDON – After a series of successful ad-hoc charters, Cargolux inaugurated services to Shannon, Ireland on June 9, making it a permanent part of its route network.
The Shannon stop is part of the following overall route that Cargolux operates:
- Los Angeles-Seattle-Shannon-Luxembourg
Domenico Ceci, Cargolux’s Executive Vice-President Sales & Marketing, commented on the inauguration:
“This new frequency is a welcome development for Cargolux to connect with its global customers and expand services in the area. Shannon is a thriving commercial gateway, and we look forward to building our partnerships in the region.”
Bolstering of Transatlantic Cargo Operations…
This new Shannon route represents the airline’s bolstering of transatlantic cargo operations, as well as giving European customers more options when it comes to transporting goods globally.
In the statement, Cargolux said that “this additional gateway in Europe offers commercial opportunities for overseas partners, an option that Cargolux is pleased to offer its customers.”
The airline has been working hard, especially during the COVID-19 pandemic, to get essentials shipped to different regions as quickly as possible.
With them doing so, the airline has reaped a lot of beneficial elements in the last 12-24 months.
Strong 2021 Results…
Back in April, Cargolux reported its financial results, which highlighted what was a very strong 2021 for the airline.
Because of the high demand for cargo during COVID, the airline was able to produce around $4.4bn in revenues, which was 40% more than in 2020.
This converted itself into a post-tax profit of $1.3bn, which was a staggering 68% increase compared to the year-previous.
|Profit before Tax||1,688||869|
The key to Cargolux’s success is the way they utilize their aircraft, to which you can see the data below:
|Aircraft utilization (block hours/day)||14:17||+3.8%|
|Load Factor (FTK/ATK)||72.8%||+4.1ppt|
The airline also said the following in their business highlights:
“The market dynamic in 2021 continued to be strongly influenced by the pandemic and its consequent repercussions. The capacity shortage and strong yields experienced in 2020, continued throughout 2021 where demand remained strong.”
“Backlog issues on the global supply chain, ocean freight capacity constraints, and limited belly-hold availability led to sustained demand for air cargo services with volumes close to peak season production throughout the year.”
“Operationally, 2021 was more challenging compared to 2020. Quarantine measures introduced in various countries, confinement of crew to hotels, lack of suitably qualified staff and infrastructure, especially in the USA, all compounded by full warehouses and a shortage of trucking services.”
“The temporary blockage of the Suez Canal also resulted in customers further relying on air cargo for their shipments.”
“The resulting capacity shortage therefore remained under pressure, resulting in year-round high volumes and strong yields reflected in the figures above.”
“2021 again highlighted the importance of the air cargo industry and Cargolux’s infinite capacity to adapt to unforeseen circumstances.”
“Cargolux consolidated its position as a leading industry player ranking no. 5 in IATA’s top 20 cargo carriers based on international scheduled freight ton kilometers, (FTKs), flown.”
With a fleet of over 30 freighters, Cargolux is definitely experiencing some strong growth, and even more so post-2021 with the new Shannon stop.
Looking ahead, it will be interesting to see how the airline performs over the Summer season, especially with the e-commerce market at an record-high boom.
It is through the airline’s strong performance that puts themselves in a great position, and as far as recovery is concerned, the airline never suffered majorly.