CARGOLUX POSTS HIGHER PROFITS
Cargolux Airlines, the Luxembourg-based B747 freighter operator,
reported $92 million in annual income for 1998, compared with $30.7 million
the previous year.
The airline’s net profit includes income from the sale of three
B747-200s. Revenue increased 5.2 percent to $578 million and tons carried
rose 17.6 percent to 321,982.
Revenue growth was affected by market downturns in Asia and South
America but the delivery of four new B747-400 freighters led to cost
savings.