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The year 2020 proved to be an exceptional year for the Cargolux Group, which celebrated its 50th anniversary at the same time. Cargolux earned a net profit after tax of USD 768.7 million with an EBIT margin of 31.3%. Cargolux' Balance Sheet was further strengthened by the result achieved.
Business Highlights
2020 was marked by the outbreak of the COVID-19 global pandemic that heavily impacted the aviation industry, including air cargo. The outlook for the year was originally quite bleak with production halted in China, due to the outbreak of what ultimately resulted in the Covid-19 pandemic. The situation resulted in a significant shortfall in available air freight capacity due to the grounding of most, if not all, long haul passenger...
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