Record results for Cargolux

Cargolux has announced record 2020 results: a net profit after tax of $768.7m – nearly four times its highest previous record of $211m, in 2018. The Luxembourg carrier’s revenues were $3.17bn, while its EBIT margin was 31.3%. “Cargolux is proud of the fact that the airline honoured all blocked space agreements with our customers that were concluded in 2019, when market conditions were significantly less favourable.” Cargolux stated that its services “alleviated the void left by grounded passenger aircraft” and saw strong demand for charter services. Its fleet of 10 747-400Fs and six 747-400ERFs, as well as 14 747-8Fs, despite