News / Cargolux posts $1.6bn record profit but warns of declining market

Cargolux has enjoyed anther year of record results, posting a profit after tax for 2022 of $1.6bn, up from $1.3bn in 2021. Revenues also hit a new high, of $5.1bn, up nearly 15%.

However, block hours fell 1.7%, aircraft utilisation was down 2.3% and load factors fell 3.6 percentage points to 69.2%

In an announcement typical of the cautious style of chief executive Richard Forson, the company said the result “allows the further strengthening of the group’s balance sheet to enable the ...