CargoLogicAir announces record profits for 2020 along with growth and networks plans
CargoLogicAir UK is delighted to announce its result for the financial year 2020, in which revenues totalled $148.9M and net profit was $45.4M.
In 2020, CargoLogicAir saw utilization increase on average by 30% 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 has led to an almost halving of its operating costs, a truly remarkable feat especially considering the COVID environment.
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, CargoLogicAir was successful in extending multiple long term capacity contracts with some of the biggest global forwarders.
Our teams have proved adaptable and resilient throughout and we share this success with them.
“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 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, CargoLogicAir CEO
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 and in particular fleet expansion.
To this effect, CLA is proud to announce fleet growth, the company will be adding two B747-400F production freighters in 2022, with deliveries planned for the first and second quarter of 2022.The company is planning to deploy these valuable assets in key markets for UK and European exporters and importers, with China and the US being primary targets. In the coming months the company will provide more information on its new network and scheduled services that it is planning to launch to further strengthen cargo connections between the UK and Europe and its key global trading partners.