News / Lufthansa Cargo shuffles freighter fleet as weak market hits H1 results

Anecdotal reports from forwarders that Lufthansa Cargo has been offering below-market rates in an attempt to boost volumes are supported by the carrier’s poor first-half results. 

Lufthansa’s logistics business shows revenue down 5% to €1.23bn ($1.37bn), while operating expenses rose 6% to €1.28bn, resulting in a 93% fall in ebit to just €9m. Adjusted ebit fell 88%. 

Capacity, meanwhile, measured in available cargo tonne km, rose 9%. Load factors fell 6.1 percentage points. 

Its biggest problems were in Asia Pacific, where Lufthansa Cargo’s first-half revenues fell 13% to €465m, and revenue cargo tonnes km (RTK) fell ...