CargoLogicAir’s FTK climb 36% and revenues double in 2018

victoria@aviationnews-online.com
By victoria@aviationnews-online.com January 31, 2019 15:01

CargoLogicAir’s FTK climb 36% and revenues double in 2018

CargoLogicAir’s (CLA) annual Freight Tonne Kilometres (FTK) grow by 36% in 2018 to 780,000 aligned with a 30% increase in block hours of 13,000.

CLA has tripled volumes of Oil & Gas industry, Aerospace, Heavy Machinery and Humanitarian cargoes over the course of the year experiencing a doubling of its revenues year-on-year to over $200 million.

Late 2018 marked the arrival of the airline’s fourth Boeing 747 freighter to support its scheduled cargo network and air charter services. The delivery kept CLA on track to achieve its planned fleet expansion, based on operating five freighters by 2020.

David Kerr, CEO of CargoLogicAir, commented: “2018 was another year of significant achievements for CargoLogicAir as we witnessed higher demand from our customers in the UK, North America and Europe. We expect 2019 to present new growth opportunities as well as some challenges and we are confident of being able to deliver another strong result. This year, we will look to support our customers with more frequencies as well as continuing to focus on improving the quality of our service and efficiency of our operations to meet the strong demand we are seeing. We will also be looking to strengthen our team by recruiting more operations and engineering professionals as well as additional and differing level flight crew.

In addition to another year of growth, CargoLogicAir achieved a series of other important milestones in 2018, including being awarded a USDA licence to help connect European and North American customers more efficiently. In the summer, the airline also joined forces with its strategic partners, Volga-Dnepr Airlines and AirBridgeCargo Airlines. The year also saw CLA move its headquarters close to London Heathrow, while maintaining its operating base at London Stansted.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com January 31, 2019 15:01