On 7 March 2025, Lufthansa Cargo released its 2024 results, which demonstrated a marked improvement over the previous year, consolidating its position among the world's leading cargo airlines. Revenue grew by 10%, reaching 3.26 billion euros compared to 2.98 billion in 2023, while adjusted EBIT rose by 15% to 251 million euros from 219 million the previous year. The adjusted EBIT margin also improved by 0.3 percentage points, reaching 7.7%.
On the operational side, the German carrier expanded its freight transport capacity, offering a total of 13.7 billion tonne-kilometres, an increase of 9% compared to 2023. Sales rose by 14%, reaching 8.5 billion tonne-kilometres, with an improvement of 2.7 percentage points in the average load factor, which stood at 61.9%. The positive trend emerged from mid-2024, culminating in a strong fourth quarter.
This final period contributed 199 million euros to adjusted EBIT, marking the best fourth-quarter result in Lufthansa Cargo’s history, excluding the years affected by the Covid-19 pandemic (2020-2022). Also in the fourth quarter of 2024, Lufthansa Cargo increased cargo flight capacity to Asia by 29% compared to the same period the previous year, responding to growing demand. New destinations such as Shenzhen and Zhengzhou were introduced to strengthen e-commerce supply chains between China and Germany.
Lufthansa Cargo attributes a key factor in its 2024 success to the implementation of its Bold Moves corporate strategy, launched at the beginning of the year with the goal of positioning the airline among the top five global players in air freight transport. This strategy focuses on three pillars: improving service quality, customer satisfaction, and cost efficiency, with an emphasis on sustainable and profitable growth.
A central element of the strategy was innovation in e-commerce services. In less than twelve months, Lufthansa Cargo developed a comprehensive e-commerce solution in collaboration with its subsidiaries heyworld and CB Customs Broker, as well as local customs authorities. This initiative streamlined e-commerce imports into Germany, enhancing both speed and regulatory compliance.
Another significant driver of growth was the expansion of the fleet and route network. The company strengthened its A321F network with the Munich operational hub and added its eighteenth Boeing 777F. Furthermore, Lufthansa Cargo inaugurated new routes with its B777 freighter, serving Monterrey in Mexico, Brussels in Belgium, and Munich with an A321 freighter for the first time. Another major development was the debut of an intercontinental route from Frankfurt to Los Angeles via Ho Chi Minh City, with the return journey crossing the Atlantic.
Capacity also increased thanks to the belly hold, which benefited from rising passenger traffic and improved load factors. In this context, the German group is expanding its offering by taking a minority stake in Ita Airways. In this regard, it announced plans to shift the Italian airline’s cargo traffic from Malpensa to Rome and Munich.
Frank Bauer, Chief Financial Officer of Lufthansa Cargo, highlighted that 2024 was a year marked by multiple initiatives to enhance quality and customer satisfaction while maintaining a strong focus on cost efficiency. This approach allowed the company to remain competitive in a challenging and highly competitive market.
Looking ahead, CEO Ashwin Bhat reaffirmed the importance of the Bold Moves strategy in tackling the uncertainties of 2025. Lufthansa Cargo will continue expanding its services, strengthening partnerships with Ita Airways and Swiss WorldCargo, and developing tailored solutions for the automotive, healthcare, and semiconductor sectors, which are seen as high-growth markets. Additionally, a strong demand is expected in the e-commerce segment. Another key component of the future strategy will be the 600-million-euro LCCevo investment project, aimed at transforming Frankfurt into Europe’s leading air freight hub by 2030.
