Cargolux reported a 2009 net loss of $153 million, nearly triple its $61 million deficit in 2008, with revenue dropping 34% to $1.3 billion as the global air cargo market contracted severely. "2009 was arguably the most difficult year in the history of airfreight," Europe's largest all-cargo airline said in a statement. "The industry registered a decline in freight volume of well over 20% during the year compared to 2008. This led to. . .overcapacity with dire ...

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