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Air cargo market still 'very difficult': Lufthansa finance chief

Lufthansa Group has highlighted the challenges that persist in the air freight market, despite a recent uptick.

"For the time being, there is a very good demand," finance chief Ulrik Svensson acknowledged during a results briefing today – but he cautions that the cargo market is "structurally a very difficult market" in which there is "short visibility".

He suggests it is best "not to look too much into the future when it comes to cargo".

Lufthansa Cargo's first-half adjusted EBIT of €78 million ($92 million) profit reversed a €45 million loss in January-June 2016. Revenue rose 19% to €1.14 billion.

Capacity, as measured in cargo-tonne kilometres, was increased 2%, but traffic grew 5%. Yields improved 10%.

At the end of June, Lufthansa Cargo's fleet comprised five Boeing 777 freighters and 14 MD-11F trijets.

However, half of Lufthansa Cargo's freight is carried in passenger aircraft, the group said in its 2016 report.

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