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Losses at Cargolux

[ March 30, 2012   //   ]

All-cargo carrier Cargolux – 35% owned by since June last year – made a net loss of US$ 18.3 million compared to a US$ 59.8 million profit in 2010. Chairman Albert Wildgen said it was difficult to pinpoint one specific reason. Factors included excess capacity in the market, steadily rising oil prices, and delays in delivery of new Boeing 747-8 aircraft. Trading conditions in 2012 are expected to be “more than challenging”, he added

 

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