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10-May-2011 10:30 AM

Lufthansa Cargo CEO: rates may rise in 2011

Lufthansa Cargo CEO Karl Ulrich Garnadt cautioned that the carrier would be unable to repeat its result from 2010, when it generated an operating profit of EUR310 million (Reuters, 09-May-2011). Mr Garnadt believes prices paid to transport goods by air may increase from autumn, adding: "Capacity remains tight, particularly with high oil prices keeping older, less fuel-efficient planes grounded". He however stated, "At the moment though, we are not seeing rising freight prices."