Lufthansa Cargo ends 2008 business year with operating profit of 164 million Euros
Revenues rise close to 3 billion Euros/ Chairman Carsten Spohr: "Backed by these results, we will emerge stronger from the crisis"
Further investment plans Lufthansa Cargo has reaffirmed plans to invest a three-digit million figure in a new logistics center in CargoCity North at Frankfurt Airport, given the required economic prerequisites. The existing center, which began operating in 1982, is now in need of modernisation. In the debate on a night-flight ruling pursuant to airport expansion, Lufthansa Cargo is still strongly in favour of a practicable solution, allowing freighter flights, which are required by the market, to be operated between 11 pm and 5 am. "An outright ban on night flights would endanger the existence of Lufthansa Cargo and of Frankfurt as a logistics base; it would additionally lastingly weaken Germany's position as an exporting nation," Spohr emphasised. "It is essential for all those involved in the expansion of Frankfurt Airport that a sensible solution be found, which takes account both of the interests of local residents as well as those of locally operating companies."
Environmental protection: "Not lip service but living corporate culture."
Lufthansa Cargo has also assumed "Industry Leadership" in the area of environmental protection- a commitment, which the Executive Board underlined by issuing environmental guidelines which are mandatory company-wide. In order to coordinate centrally the environmental protection measures ensuing from the guidelines, Lufthansa Cargo has put in place an environmental management system conforming to ISO Standard 14001. The Frankfurt base was accordingly certificated to that norm at the end of 2008.
Finally, at the first environmental conference staged by Lufthansa Cargo earlier this year, innovation prizes for contributions towards environmental protection were conferred by a highranking jury consisting of prestigious representatives of business and industry, research and the media. These "Cargo Climate Care Awards" from Lufthansa Cargo are conferred on committed customers and staff as well as students and young research scientists for developing innovative solutions to improve the environmental balance in airfreight traffic. "Even in economically difficult times, Lufthansa Cargo does not just pay lip service to environmental and climate protection. At Lufthansa Cargo, it is living corporate culture,"emphasised the Chairman.
The flexibility to emerge strengthened from the crisis The global economic crisis has severely affected the global air cargo industry since the final quarter of 2008. On 1 January 2009, Lufthansa Cargo introduced a programme to safeguard its results. The programme entails, among others cuts in freighter capacities as well as staff and materials costs. At the same time, the company will continue to actively exploit market opportunities - for example, by operating services with MD-11 freighters between Milan and the USA.
Despite the initiated measures, Carsten Spohr expects revenues to fall perceptibly and operating profits to be well below those of the previous year in a difficult business environment in 2009: "The global economic crisis has the entire international airfreight business firmly in its grip. The 2009 business year will confront Lufthansa Cargo with the biggest challenge for many years " and we will operate with the maximum possible flexibility. In spite of persisting weak demand, we are confident that we will emerge strengthened from the crisis and expand our leading market position."
About Lufthansa Cargo AG
Lufthansa Cargo ranks among the world's leading cargo carriers. In the 2008 financial year, the airline transported around 1.7 million tonnes of freight and mail and clocked up 8.3 billion revenue tonnekilometres. The company currently employs about 4,600 people, worldwide. Lufthansa Cargo focuses on the airport-to-airport business. The cargo carrier serves some 300 destinations in a global network with its own fleet of freighters, the belly capacities of Lufthansa's passenger aircraft and an extensive road services network. The bulk of the freight transported by Lufthansa Cargo is trans-shipped through Frankfurt, Europe's largest air cargo hub. Lufthansa Cargo is a wholly-owned Lufthansa subsidiary. In the 2008 financial year, it posted revenues totalling 2.9 billion Euros.