Cargo volumes on British Airways World Cargo (BAWC) increased 15% to 2,419 million tonne-kilometers in the first half of its financial year (ended Sept. 30th). Flown revenues also rose 5.4% to £235.8 million. The increase in revenues is an even more compelling 14.2% when the impact of exchange rates is removed.
The carrier launched its third long-haul freighter service in September 2003, which it followed with the European short-haul freighter service in October. An ongoing agreement with Korean air added to capacity increases.
Among the challenges facing the airline were fuel prices and global market conditions. The UK market as a whole experienced an 8% decline in yield when compared with the same period in 2003. “Competition in Europe has also been fierce, with U.S. carriers performing strongly with their services that originate in the Middle East,” according to the airline.
“The recent launch of our new service between the U.K. and China reinforces our long-term commitment to developing our network,” said Gareth Kirkwood, managing director of BAWC.