Cargolux Reports $465 Million Profit for 2023 Amid Market Normalization
Cargolux has announced a net profit after tax of $465 million for the 2023 financial year, coinciding with its 55th anniversary. This figure represents a significant decline from the record $1.6 billion profit recorded in 2022. The decrease reflects the broader normalization of the air cargo market following the exceptional boom years during the pandemic. As global supply chains stabilized, both demand and freight yields have returned to more traditional, pre-Covid levels. Despite the drop, the result is considered a solid performance in a challenging environment.
Official Source: https://www.stattimes.com/air-cargo/cargolux-posts-465-million-profit-after-tax-in-its-55th-year-1358964