Cargolux Airlines International
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Location of Cargolux Airlines International main hub (Luxembourg Airport)
210 total articles
4 total articles
When reporting its first net loss in 30 years, Luxair observed that “Many traditional, independent, small size European airlines which do not operate long-haul services are facing financial disaster and are fighting for survival. The only airlines which operate an intra-European network and which are managing to do well are the low-cost airlines.”
With this in mind, the Luxembourg-based operator of scheduled and charter passenger operations, cargo handling and aviation services is embarking on a crucial turnaround plan. It targets a breakeven result in 2015 by achieving annual profitability improvements of EUR25 million, or almost 6% of 2012 revenues. This looks an ambitious target given its 2012 operating loss margin of 4% of revenues.
It has been an exceptionally busy year for aircraft manufacturers. Boeing delivered its first B787 and B747-8F and launched the B737 MAX, setting its narrowbody strategy for the next decade at least. Airbus went ahead with the A320neo late in 2010 and has been amply rewarded with an avalanche of orders, but has been forced to delay the A350 XWB.
Of the smaller manufacturers, Bombardier is plugging away doggedly with CSeries, trying to break the Airbus/Boeing monopoly. Embraer has just announced that it will stick with the regional jet market, offering a re-engined version of its existing E-jets family instead of venturing into the intensely competitive narrowbody market. Coming soon are COMAC's C919 and Irkut's MS-21.
European airlines reported single-digit growth last year - a welcome improvement from 2009's depressed level - but 2010 was a lacklustre year overall. Full year data has been released by the Association of European Airlines (AEA), the European Low Fares Airline Association (ELFAA) and EUROCONTROL. As noted by EUROCONTROL, growth across the continent last year was driven mainly by LCCs.
Price fixing allegations have proliferated over the last few days, with total costs likely to exceed a billion dollars. Fixing prices used to be a way of life in the airline business – and it may be that, for some employees of major airlines, not much has changed.
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