CargoLogicAir announces 2020 profits; to add B747-400F in 2022
In 2020, CargoLogicAir (CLA) saw utilization increase on average by 30 percent per aircraft. The company is planning to deploy the freighters in key markets for UK and European exporters and importers, with China and the US being primary targets.
CargoLogicAir UK’s revenue for the financial year 2020 was $148.9M and net profit was $45.4M. In 2022, the company will be adding two B747-400F production freighters with deliveries planned for the first and second quarter of 2022. The company is planning to deploy these valuable assets in key markets for the UK and European exporters and importers, with China and the US being primary targets.
In 2020, CargoLogicAir (CLA) saw utilization increase on average by 30 percent per aircraft, whilst continuously improving quality KPI’s in particular on-time performance and cargo handling. Simultaneously the company has been focused on operational efficiencies which have led to an almost halving of its operating costs, a truly remarkable feat especially considering the Covid environment.
“As a management team, we are extremely proud and pleased with what the company has achieved, and more importantly how we have transformed the organisation and company to a lean and efficient organisation. I would like to thank all key stakeholders for their continuous support in particular all CLA employees, its customers and the UK CAA and the UK Department of Transport. In the coming years, the focus will remain on expanding our services and network growth whilst we also continue to focus on meeting our environmental objectives,” Nadeem Sultan, CEO, CargoLogicAir.
CLA has been on the frontline to support its customers with various solutions, prioritising healthcare transportations but at the same time guaranteeing effective logistics for other industries as well. As a direct result of this, CLA was successful in extending multiple long-term capacity contracts with some of the biggest global forwarders.
2020 has been a year of rebuilding and strengthening the business which has resulted in a solid foundation to launch expansion and growth plans. So far 2021 has proven to be another solid year for CargoLogicAir, which has resulted to further investments.