29 April 2020

Cargolux financial results for 2019

After 2 years of exceptional growth, the industry once again entered turbulent times in 2019. On the eve of its 50th anniversary, in a challenging climate marked by a global economic slowdown, overcapacity and low yields, Cargolux still managed to outperform the industry average and close the year with a profit. The Cargolux Group (Cargolux) generated a positive net result of USD 20.2 million with an EBIT margin of 5.1% - despite unfavorable and volatile market conditions - a reflection of the company’s solid business strategy. At year-end, Cargolux’ Balance Sheet reflected stable financial ratios compared to the previous year and a further improvement in its cash position versus 2018.

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About Cargolux Airlines International

Cargolux, based in Luxembourg, is Europe’s leading all-cargo airline operating a fleet of 30 Boeing 747-8 freighters and Boeing 747-400 freighters. As a future-geared airline, Cargolux also has 10efficient Boeing 777-8F on order to replace its ageing 747-400 aircraft. The Cargolux worldwidenetwork covers over 50 destinations on scheduled all-cargo flights and offers full and part-charterservices. The company has more than 90 offices in over 50 countries and operates an extensiveglobal trucking network to more than 250 destinations. With over 55 years of experience in the aircargo industry and an extensive product portfolio, Cargolux provides tailored transport solutions forall types of shipments. The Cargolux Group also offers aerial firefighting services through itsdedicated unit Aquarius Aerial Firefighting. As a responsible cargo carrier, Cargolux has developeda solid Sustainability program encompassing Environmental, Social, and Governance principles.The Cargolux Group employs close to 4,000 staff members worldwide. 

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