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Luxembourg - Cargolux Group reported a positive net result for its 2024 financial year, marking the second-strongest performance in the company's history, aside from the COVID years. The group disclosed revenues of $3,324 million and a profit after tax of $448 million. According to the group, this financial outcome has enhanced its balance sheet amid market volatility.
Richard Forson, President & CEO of Cargolux, stated, "I am pleased to announce the exceptional results we have achieved in 2024. Our agile approach to business, and our people’s commitment to service excellence enabled Cargolux to swiftly adapt to changing market dynamics, securing yet another remarkable year."
During 2024, ongoing geopolitical tensions, including the war in Ukraine and conflicts in the Middle East, affected operational costs and customer confidence. However, global demand for e-commerce shipments helped drive a capacity shift to Asia, resulting in strong volumes despite disrupted seasonal trends. The demand for charter flights also contributed significantly to the year's results.
