Air Transport World

Cargo Airline Of The Year: Cargolux.(ATW Airline Achievement Awards)

Thirty-five years ago, the Grand Duchy of Luxembourg's national carrier Luxair and a handful of other investors got together with the idea of creating a cargo airline. The little airline they launched in 1970, Cargolux, has grown beyond its founders' wildest expectations to become Europe's largest all-cargo carrier, the 11th-largest airline in the world in terms of FTKs and ATW's 2005 Cargo Airline of the Year. In 2004, its revenues topped $1 billion for the first time, "the barrier that divides the smaller companies from the more advanced companies," President and CEO Ulrich Ogiermann noted proudly to this magazine (ATW, 12/04, p.26).

Moreover, Cargolux has managed to put itself into the elite group of European network carriers that have been profitable in each of the past five years, including earnings of $70. …

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