Built for Cargo

摘要

Next year, Cargolux Airlines International will celebrate its 35th anniversary. Established in 1970 by Luxembourg national carrier Luxair, Salen Shipping Group, private interests and Loftleidir Icelandic—which recently acquired a 10.1% stake in easyjet— the airline has outperformed its founders' wildest expectations, growing to become the ninth-largest cargo airline in the world, according to IATA, and Europe's largest all-cargo carrier, with revenue expected to exceed $1.1 billion in the current year. Moreover, it has managed to put itself into the elite group of European network airlines that have been profitable in each of the past five years, with earnings of $70,9 million in 2003 up 43% compared to $49.6 million in 2002. Operating profit rose 17% to $64,9 million on an 18% increase in operating revenue to $954.3 million.