Profit for Cargolux

Despite a difficult overall market situation, Cargolux Airlines said that it ended 2014 on a positive note. While the industry continued to suffer from overcapacity and noticeable pressure on yields, Cargolux benefited from a very strong last quarter in 2014. Combined with a rapidly declining oil price, the airline achieved record levels of block hours and tonnages while enjoying a welcome increase in yields. Cargolux ended the year with a profit of $3 million despite having to impair its B747-400 fleet by $40 million and providing for any potential anti-trust impact from the various legal actions that have been raised