Lufthansa Cargo Q1 Profit Jumps 35% as Red Sea Crisis Boosts Air Freight Demand
Lufthansa Cargo reported a significant 35 percent increase in its first-quarter adjusted profit, reaching €21 million. This growth is largely attributed to the ongoing crisis in the Middle East, which has disrupted ocean freight through the Red Sea. The disruption has forced shippers to shift to air cargo to maintain supply chain stability, tightening capacity and benefiting air carriers. Despite a slight decrease in overall revenue to €656 million, the airline's cargo load factor saw a healthy increase. The results highlight the direct impact of geopolitical instability on global logistics and the air freight market.
Official Source: https://www.stattimes.com/financial/lufthansa-cargo-lifts-q1-profit-35-as-middle-east-crisis-tightens-supply-1359072
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