Lufthansa Cargo builds on flexibility
The strong sales growth from the record year 2010 continued unbroken in the first half of the 2011 financial year. Structurally higher capacity compared with the same period last year was sold almost in full, especially at the beginning of the year.
Over the course of the year sales slowed sharply however, especially compared with the very strong period last year. This was mainly due to weaker performance in Asia. Demand remained below the original expectations, above all in China, the most important airfreight market in the world. The Chinese airfreight market was also characterised by very intense competition and considerable overcapacities. Thanks to strong exports, Lufthansa Cargo profited from much better load factors on flights from Europe to China. At the same time, the company decided to shift capacity from Asia towards America, as market developments in this traffic region were much more stable.
This fast and flexible capacity management enabled Lufthansa Cargo to boost its traffic figures substantially for the full year 2011. The company expanded in all traffic regions and opened up new markets.