Lufthansa Cargo significantly improved its business results in 2024 compared to the previous year. Looking at the entire year, a positive business development was already evident from mid-year. The fourth quarter, which alone accounted for 199 million euros of the adjusted EBIT in 2024, marked the best fourth quarter in the company's history outside of the years affected by the COVID-19 pandemic (2020 to 2022).
In 2024, Lufthansa Cargo responded particularly quickly and flexibly to new market developments to seize growth opportunities within the BOLD MOVES strategy: within less than twelve months, the company developed a comprehensive eCommerce solution in collaboration with its subsidiaries heyworld, CB Customs Broker, and local customs authorities, enabling customers to smoothly and compliantly import eCommerce shipments into Germany.
Additionally, Lufthansa Cargo offered approximately 29 percent more freighter capacity to Asia during the high season in the fourth quarter (compared to the same period of the previous year) to meet high demand. New stations, Shenzhen (SZX) and Zhengzhou (ZGO), were added to the freighter network to support important eCommerce supply chains from China to Germany.
"Our 'BOLD MOVES' strategy proved crucial to Lufthansa Cargo's success in 2024. We were able to demonstrate two things last year: our speed of innovation focused on customer needs and our flexibility in quickly responding to market developments. Therefore, I am optimistic about 2025 – a year that will continue to be characterized by uncertainties and unpredictable events", said Ashwin Bhat, CEO of Lufthansa Cargo.
"We initiated and successfully implemented a variety of measures in 2024 to further enhance our quality and especially our customer satisfaction. At the same time, we are strongly focused on cost efficiency and productivity to mitigate increased location costs and inflation-related cost increases. This improves our competitiveness in a highly contested market," explains Frank Bauer, Chief Financial Officer and Labor Director of Lufthansa Cargo.
