The Cargolux Group made a net profit of US$5.5 million in 2016, a year-on-year decrease of 88.8%, according to results released by the airline.

The group carried 964,131 tonnes of cargo in the year, 8.4% more than in 2015. Freight tonne kilometres also grew by 10% year-on-year, gaining the carrier the number-six spot in the International Air Transport Association’s ranking of cargo carriers in terms of international scheduled FTKs.

Available tonne kilometres increased to 11.3 million and the overall load factor rose from 65.9% to 66.76%.

Global market share grew by 0.1 percentage point to 3.9%.

“The excellent results for 2016 are testament to the strength of Cargolux and the dedication and passion of our employees who deserve special recognition for their effort and hard work, especially during the last quarter,” said Richard Forson, president and CEO. “They have enabled the airline to perform all flights as planned and deliver on our service quality promise towards our customers, who, in turn, continue to support us with their loyalty and trust. The success of Cargolux is truly a team effort and that is exactly the way it should be.”

During the year, the airline boosted its presence in Zhengzhou and carried a total of more than 105,000 tonnes of freight to and from the city, a year-on-year increase of 59%.

Cargolux took delivery of its 14^th Boeing 747-8F in September 2016, bringing the fleet to 10 747-400Fs, two 747-400ERFs and 14 747-8Fs.

The group flew 122,575 block hours, 6.7% more than 2015, and the average daily utilization of the fleet was 14:35 hours, according to Cargolux.