GERMANY's lufthansa Cargo, and units time:matters, Jettainer as well as the company's share of AeroLogic, posted a second quarter 45 per cent year-on-year increase in operating profit to EUR393 million (US$402 million), drawn on revenues of EUR1.3 billion, up 45 per cent.
This despite a one per cent year-on-year decline in second-quarter traffic to 1.8 billion revenue cargo tonne kilometres, while the average load factor was down by 13 percentage points to 60.2 per cent.
'The performance of the logistics segment is still at a record high,' said Lufthansa.
'Total market freight capacity continues to be down as a result of the coronavirus pandemic and the consequent absence of belly capacities on passenger aircraft.
'Demand for freight capacities remains high,' said the company. 'Operational stability has been maintained despite a difficult operating environment, which included lockdowns in China and diversions caused by flying around Russian airspace.'
However, rates remained high as passenger - and therefore bellyhold capacity - remained constrained out of China and Hong Kong due to Covid.
SeaNews Turkey
This despite a one per cent year-on-year decline in second-quarter traffic to 1.8 billion revenue cargo tonne kilometres, while the average load factor was down by 13 percentage points to 60.2 per cent.
'The performance of the logistics segment is still at a record high,' said Lufthansa.
'Total market freight capacity continues to be down as a result of the coronavirus pandemic and the consequent absence of belly capacities on passenger aircraft.
'Demand for freight capacities remains high,' said the company. 'Operational stability has been maintained despite a difficult operating environment, which included lockdowns in China and diversions caused by flying around Russian airspace.'
However, rates remained high as passenger - and therefore bellyhold capacity - remained constrained out of China and Hong Kong due to Covid.
SeaNews Turkey
