Asia driving force for Lufthansa Cargo

Lufthansa Cargo plans to expand its presence in Korea and China, forecasting that more than 50 per cent of its business will be made in Asia soon.


Asia driving force for Lufthansa Cargo


Lufthansa Cargo plans to expand its presence in Korea and China, forecasting that more than 50 per cent of its business will be made in Asia soon.

“Forty-seven per cent of our business is in Asia and growing,” chairman and CEO of Lufthansa Cargo Karl Ulrich Garnadt told The Korea Herald. “Very soon it will be 50 per cent. China is the most important market at 20 per cent out of the total 100 per cent.”

“We will see air cargo traffic grow by 4.5 per cent (worldwide) in the next decade,” he said. “For developed economies who depend on exports and imports, air cargo is indispensable. Here in Korea, it’s even more significant.”

From Germany to Korea, Lufthansa had 23 per cent growth last year and became the top non-Asian carrier in the country occupying the fifth spot after Korean Air, Asiana, Cathay Pacific and All Nippon Airways respectively.

But the same cannot be said for Korean exports: “Volumes from Korea to the world went down last year 14 percent,” he said. The reason Garnadt said was due to Korea’s dependency on electronic exports.