Lufthansa Logistics revenue soars 21% in Q1

Lufthansa Group today reported 834 million euros ($949.1 million) in revenue for the first quarter of 2025 for its Logistics segment, which includes Lufthansa Cargo, up 20.7% year over year. The carrier group reported $9.2 billion in overall Q1 operating revenue, up 9.9% YoY. [caption id="attachment_57150729" align="aligncenter" width="1782"] Unit 68197, a production 777F, has been named 'Hola Argentina.' (Courtesy/Lufthansa Cargo)[/caption] Lufthansa Group also reported in Q1: Operating income of $10 billion, up 8% YoY; Adjusted loss before taxes of $821.6 million, up from an adjusted loss before taxes of $966.2 million in Q1 2024; 4.1 billion available cargo tonne kilometers (CTK), up 7.9% YoY; 2.4 billion revenue CTKs, up 8.4% YoY; and A cargo load factor of 59.5%, up 0.2 percentage points YoY. A positive air cargo operating and financial trend that began in the second half of 2024 continued into Q1, Lufthansa stated in today’s earnings report. This trend was buoyed by e-commerce business from Asia. The 7.3% increase in capacity was partially attributed to a production 777F (68197) that the carrier added in August 2024. Unit 68197 was named “Hola Argentina” last week as Lufthansa announced an additional weekly flight each to Buenos Aires (EZE) and Curitiba, Brazil (CWB). This brings flights to each airport to two per week. Lufthansa Cargo also launched two weekly narrowbody-freighter flights to Katowice , Poland (KTW), this month, operated by an A321P2F between Frankfurt (FRA) and KTW on Thursdays and Saturdays. Lufthansa Cargo operates twelve 777Fs and four A321P2Fs, and uses belly capacity on Lufthansa’s passenger aircraft. Also, AeroLogic , a joint venture between Lufthansa and DHL Express, operates twenty-five 777Fs. AeroLogic added unit 68144 , which it flies on a CMI basis for DHL Express, in March. The JV then added units 68145 and 68146 this month. Lufthansa has ordered seven 777-8Fs, which it expects to receive from Boeing by 2030, according to Lufthansa's 2024 earnings report released March 6. Shares of Lufthansa Group ( OTCMKTS: DLAKY ) were down 3.9% from market open to $7.15 as of market close today. Lufthansa Group has a market capitalization of $8.5 billion. LATAM cargo revenue up 10% LATAM Airlines Group reported $405.6 million in Q1 net cargo revenue, up 9.8% YoY. The carrier group had a record first quarter in terms of profitability, according to today’s earnings call, and reported $3.4 billion in total operating revenue, up 2.7% YoY. The group also reported in Q1: Adjusted operating income of $573.2 million, up 23.9% YoY; Adjusted EBITDAR of $962.1 million, up 20.9% YoY; 2 billion available CTKs, up 4.4% YoY; 1.1 billion revenue CTKs, up 5.5% YoY; Load factor of 53%, up 0.6 percentage points YoY; 221,353 tonnes of cargo transported, up 3.8% YoY; Yield based on revenue CTKs of 38 cents, up 4.1% YoY; and Revenue per available CTK of 20 cents, up 5.2% YoY. [caption id="attachment_57145733" align="aligncenter" width="1200"] (Courtesy/LATAM Cargo)[/caption] LATAM Cargo operates twenty 767-300Fs, having sold a 1999-vintage 767-300F with CF6 engines (29881) to CAM in March and a 2000-vintage 767-300F with CF6 engines (30780) to aircraft trader Jetran in October 2024. ATSG leasing subsidiary CAM is in negotiation with a customer to lease unit 29881, ATSG told Cargo Facts in March. Unit 30780 was taken on by Cargojet in December, making it Cargojet’s first production freighter. LATAM plans to sell one more 767-300F in 2026, the company said in its 2024 earnings report in January. In August, LATAM Cargo added its final planned 767-300BCF conversion , a 2012-vintage unit (40799), completing its conversion order with Boeing, although that aircraft has not yet entered service. Additionally, S&P Global Ratings upgraded LATAM to "BB" from "BB-" with a stable outlook and Fitch Ratings upgraded LATAM to "BB" from "BB-" with a positive outlook. Shares of LATAM Airlines Group ( NYSE: LTM ) were up 3.8% from market open to $31.71 as of market close today. LATAM has a market capitalization of $9.7 billion. LATAM was relisted on the New York Stock Exchange on July 25, 2024, ending a four-year absence from the exchange after filing for Chapter 11 bankruptcy in 2020. Neste increases SAF production by 24% Fuel-producer Neste today reported $5.7 billion in Q1 revenue, up 4.5% YoY. The company also reported an EBITDA of $227.7 million, down 54.8% YoY, and a loss per share of 6 cents, compared with earnings per share of 24 cents in Q1 2024. Neste has ramped up its sustainable aviation fuel (SAF) production and this month announced modifications to its renewable products refinery in Rotterdam , the Netherlands, allowing it to produce SAF. This facility will be able to produce more than 450,000 tonnes of SAF each year, Neste told Cargo Facts . [caption id="attachment_57150313" align="aligncenter" width="624"] Neste has begun to produce sustainable aviation fuel at its facility in Rotterdam. (Courtesy/Neste)[/caption] Q1 SAF production grew 24% to 187,787 tonnes and SAF sales volume grew 217.1% YoY to 117,934 tonnes, according to the earnings report. About 69% of renewable diesel and SAF volumes were sold to the European market and 31% to North America. Neste also signed an agreement with DHL Group in Q1 to collaborate more closely to evaluate how SAF and renewable diesel, also called HVO100, can better decarbonize air transport and road transport, respectively, Neste told Cargo Facts in February. Shares of Neste ( OTCMKTS: NTOIY ) were up 10.57% from market open to $5.02 as of market close today. Neste has a market capitalization of $7.8 billion. Editor’s note: All amounts have been converted to U.S. dollars. Register now for Cargo Facts EMEA, an essential regional event for industry stakeholders, on May 6-8 at the Shangri-La Bosphorus in Turkey.

Lufthansa Logistics revenue soars 21% in Q1

LATAM cargo revenue up 10% in Q1; Neste increases SAF production 24%

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