Cargolux is preparing for another uncertain year in air cargo after reporting stronger financial results for 2025, despite a decline in volumes.
The Luxembourg-headquartered airline posted revenues of $3.4bn, up 2.5% year on year, while profit after tax increased 3.8% to $465m.
The performance came even as volumes fell 2.8% to 1.1m tonnes, block hours declined 2.5% to 149,269, and the cargo load factor slipped by 1.2 percentage points to 65%.
Cargolux said the industry faced a difficult operating environment in 2025, shaped by geopolitical tensions, trade wars, and airspace restrictions linked to conflicts in the Middle East and Ukraine. While e-commerce and niche segments helped support demand, the airline noted that volatility continued to put pressure on global logistics networks.
To respond to fluctuating demand, Cargolux optimized its network, including the use of charter operations. The carrier ended the year ranked 10th in IATA’s top 20 cargo carriers by international scheduled freight tonne-kilometers.
Looking ahead, Cargolux said forecasting remains difficult due to rapid geopolitical shifts, tariff threats, fuel price volatility, and uncertainty around e-commerce volumes. The airline also pointed to increasing environmental, reporting, and compliance requirements for European carriers, calling for a level playing field with global competitors.
