[FRANKFURT] Deutsche Lufthansa AG, Europe's second-largest airline, said it plans to increase freight volumes faster than rivals this year as bigger planes join the fleet and some carriers cease competing as fiercely.

Lufthansa aims to boost volumes 5 per cent, versus a projected industrywide gain of 2.9 per cent, Andreas Otto, head of sales at the cargo unit, said at a briefing in Frankfurt. On average, freight cargoes to and from Europe will grow 4 per cent a year through 2020, he added, citing Seabury Group forecasts.

Carriers including World Airways Inc, Air Cargo Germany GmbH and Frontier Airlines were forced to fold, file for bankruptcy or cease freight flights last year as stuttering economic growth led to overcapacity. The glut was heightened by the arrival of new cargo planes and additional belly space in wide-body passenger jets entering service with Gulf operators.