News / Cargolux chief: 'I won’t drop prices to get tonnage' in a challenging 2019

26/04/2019

“I expect 2019 to be rather more of a challenge,” said Richard Forson, chief executive and president of Cargolux, which this week released record results for 2018.

Cargolux’s figures are not particularly transparent, but Mr Forson told The Loadstar that, while he was unable yet to discuss net debt, cash flow had improved.

“Our cash position at the end of the year significantly improved from 2017, and unrestricted cash reserves are now $528m, up from $348m at the end of 2017.

“But in this cyclical industry, you need to have those ...