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"

(PresseBox) ( Frankfurt/Main, )
A global network and the high frequency of flight connections resulting from utilisation of capacities within the Lufthansa Cargo Group enhance the established strengths of Lufthansa Cargo. Customers have access not only to capacities on the company's own MD-11 freighters and in the belly holds of around 400 passenger aircraft operated by Lufthansa Passenger Airlines but also to the Boeing 747-400ER freighters in the fleet of the Sino-German joint venture Jade Cargo International. Since April 2008, Lufthansa Cargo has marketed the capacities of Jade freighter flights on all routes out of Europe and, since 1 January 2009, the bulk of their capacities on services ex Asia. In the near future, Lufthansa Cargo will also be offering capacities on brand-new Boeing 777-200LR freighters operated out of Leipzig/Halle Airport by its new AeroLogic joint venture with DHL Express. The joint venture is scheduled to commence operations in June 2009.

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."
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