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Cargolux outperforms competition in 2015 Dual Hub Strategy leads to positive results

Luxembourg, 23 March 2016 – In its 45th anniversary year and against a background of low yields, continued overcapacity and declining volumes, the Cargolux Group performed extremely well, achieving record levels of tonnage and block hours and ended the year on a net profit after tax of US$ 49 million. The company outperformed not only the market, but also its direct competitors in Europe who, in some cases, retired freighters or reduced their air cargo activities. “It is a sign of our company’s strength that, despite the energy we needed to achieve a CWA compromise, we managed to achieve a significant boost in our performance and a healthy profit, contrary to most of our European competitors,” says Dirk Reich, Cargolux President & CEO. “While this excellent result benefitted from a reduction in fuel costs, it is in large part due to the hard work of our people, as well as our strategy and the corresponding measures that we began to introduce in 2014 in order to reduce our costs.”

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