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Lufthansa Cargo CEO: rates may rise in 2011

10-May-2011 10:30 AM

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."