Lufthansa’s cargo unit expects the global air freight industry’s growth to slow in the fourth quarter of this year as weaker economic growth hurts consumer spending. This according to the head of the unit, Carsten Spohr, speaking in an interview with Euro magazine.
Carsten Spohr said, ‘But we stick with our forecast that we will beat last year’s earnings this year.’
He said growth markets like China will help the company keep earnings strong.
He said, ‘We are not making any money there in China yet, but we have one foot in the most important air freight market, which will in a few years account for 25% of the global market.’
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