While a slower recovery and strong competition has hit Lufthansa Group’s passenger operations on Asia-Pacific routes since the pandemic, the carrier is shifting more of its freighter capacity to tap strong cargo demand from the region.
In third-quarter results disclosed yesterday, Lufthansa highlighted an improved performance from its logistics division, posting a €38 million ($41 million) profit, against a figure of €1 million a year earlier, in a traditionally weak quarter for air cargo.
Briefing analysts on 29 October, Lufthansa Group chief executive Carsten Spohr cited the strength of e-commerce in Asia-Pacific, particularly China.
“That is why we have shifted cargo freighter capacity from the transatlantic to Asia to take full advantage of the healthy market development out of China.
”We hardly have freighters any more to the US, we mainly now focus on belly capacity to and from the US,” he adds. ”We still have some freighter operations, but we are shifting our freighters more and more to Asia, especially to China, where the yields are highest out of China. But also Vietnam is an interesting place [for cargo].”
Notably, Lufthansa Cargo on 29 October launched its first direct transpacific freighter service, connecting Ho Chi Minh City from Los Angeles with a weekly Boeing 777 Freighter flight operated by Aerologic, its joint venture carrier with DHL.
That forms part of stepped up Asia-Pacific air cargo network, which includes additional frequencies to Mumbai and Taipei on top of the recent addition of Shenzhen and Zhengzhou to its Chinese network.
Lufthansa Cargo took delivery of its 18th 777F in August.
