The massive downturn in global airfreight is hitting home at Lufthansa Cargo despite a 20.9% increase in year-over-year operating profit to €164 million ($214.5 million) in 2008, with cargo carriage falling 25% in January and February with similar figures expected this month, according to Chairman and CEO Carsten Spohr. LHC already has parked four of its 19 MD-11 freighters and Spohr said falling yields and the unknown length of the economic downturn leave the business facing ...

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