Cargolux

Industry:

Freight & Logistics Services

Description

Cargolux is one of the leading cargo airlines worldwide, operating scheduled and charter services on a network covering all continents. The company offers 35 years of experience and, today, ranks in 8th position worldwide, measured in tonne-kilometers flown. At European level Cargolux is currently the largest all-cargo airline.

Cargolux is an integrated transportation company, operating exclusively for freight forwarders. We use a fleet of 14 B747-400F pure freighter aircraft and 20 trucking contractors to move valuable and time-sensitive commodities on our worldwide network, covering over 90 destinations.

Our network links many of the world's most important production centers of industrial, automotive and consumer goods through our hub in Luxembourg. We also specialize in the transportation of outsize shipments, perishable goods and live animals.

Flexibility is one of Cargolux's strongest assets, and Cargolux successfully builds on long-term cooperation with its customers and well as other airlines on key markets. "At Cargolux, we continue to adapt our structures to grow in line with the global air freight market", says Cargolux President and CEO, Ulrich Ogiermann. "We continue to accompany our customers on potential growth markets and reinforce our position at the crossroads of the major trade flows worldwide".

Cargolux is a privately owned airline that has managed to remain profitable and to continue growing even in difficult economic times. Its shareholders are Luxair (34,9%), SAir Logistics (33,7%), Luxembourg financial institutions (31.1%) and a few independent shareholders (0,3%).

In 2005, Cargolux achieved a total consolidated income amounting to US$ 1.45 billion and a net consolidated profit of US$ 89.4 million. Tonnes carried in the year 2005 were 644,613 tonnes, Tonne-kilometers flown (FTKs) amounted to 5,292 million. Shareholders' equity increased from USD 462.7 million in 2004 to USD 531.7 million in 2005. The company's financial gearing improved significantly to 79.7% (versus 145.6% in 2004).

Cargolux is constantly adapting its network to changing market demand and trade flows. New destinations recently added to its network are Chicago (USA), Amman (Jordan), Petrolina (Brazil), Doha (Qatar) and Dammam (Saudi Arabia). At the same time, frequencies to other destinations were increased, notably to Chinese and Middle Eastern destinations.

The Cargolux fleet consists of 14 B747-400F freighters. Two additional new B747-400F freighters have been ordered and will be delivered in 2007 and 2008 respectively.

On 15 November 2005, Boeing announced the launch of a new aircraft, the Boeing B747-8, which features reduced fuel burn as well as lower noise and atmospheric emissions. Cargolux is one of the two launch customers for this next generation aircraft, with a firm order for 10 aircraft and purchase rights for an additional 10 units of the new B747-8F freighter. The first 747-8F will join the Cargolux fleet in the second half of 2009.

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News Archive

United States: Boeing Tows First 747-8 Freighter Out Of Everett Paint Hanger - Update. TendersInfo; 11/20/2009 ...Despite being troubled with delays, Cargolux, the launch customer, insisted on staying...caused Boeing a charge of $1 billion. Cargolux placed 13 firm orders for the freighter...78 of them are for the new freighter. Cargolux, Nippon Cargo Airlines, AirBridgeCargo... ...more

First 747-8 Freighter leaves the factory.(Aerospace News) Seattle Post-Intelligencer (Seattle, WA); 11/13/2009 ...in Everett, Wash., Thursday. The airplane, destined for Cargolux, will be painted and begin preparations for flight test...orders for the 747-8, including 78 for the freighter from Cargolux, Nippon Cargo Airlines, AirBridgeCargo Airlines, Atlas Air... ...more

First Boeing 747-8 Freighter Leaves Factory. PR Newswire; 11/13/2009 ...in Everett, Wash. The airplane, ultimately destined for Cargolux, will be painted and begin preparations for flight test...the 747-8, 78 of which are orders for the new freighter. Cargolux, Nippon Cargo Airlines, AirBridgeCargo Airlines, Atlas Air... ...more