Lufthansa Cargo cuts capacity, may cut deeper

Forecasting a growth of around three per cent for the air freight industry next year, Lufthansa Cargo sales chief Andreas Otto said the cargo carrier had made major cuts to available capacity over the Christmas/New Year’s holiday period and could cut more.


Andreas Otto forecast Lufthansa Cargo


Forecasting a growth of around three per cent for the air freight industry next year, Lufthansa Cargo sales chief Andreas Otto said the cargo carrier had made major cuts to available capacity over the Christmas/New Year’s holiday period and could cut more.

“We cut capacity by between 20-25 per cent from mid-December to mid-January because of the holiday season and we could take that up to 30 per cent,” he said. “We might see zero growth in the first quarter or first half, but the second half should be better. We don’t see a recession,” he said, adding that the cargo carrier was prepared to quickly take out capacity should the downturn be sharper than expected.