British Airways Cargo quarterly revenue dropped 28.1 per cent

Revenue for British Airways World Cargo dropped 28.1 per cent in the first quarter of the company's financial year against same period in 2008, said the airline while providing no news on profits, the Shipping Gazette informs.

Commercial revenue, which includes fuel surcharges, totalled GBP128 million (US$210.6 million) for the company's first quarter ending June 30.
Cargo volumes fell 11.5 per cent to 1.1 billion ton-kilometres despite capacity cuts of 6.5 per cent. Overall yields decreased 19 per cent, a fall that was blamed on lower fuel surcharges.

"Demand has declined across all markets, though our premium volumes have performed relatively well given the economic conditions," said financial controller Sean Doyle as reported by American Shipper. "Europe, the US and Asia Pacific have been hit hard with yields falling as a result of declining fuel surcharges and over-capacity in the market."

Source: Transportweekly