08 February 2012

BAWC “cautiously optimistic”

Published:: 08 February 2010
Channel:: Distribution

British Airways World Cargo has reported a 3.2 per cent rise in traffic to 1,203m cargo tonne kilometre for the third quarter.

However, for the first nine months volumes were down 4.4 per cent at 3,443m cargo tonne kilometre, while sales at £402 million, were down 25 per cent.

Managing director Steve Gunning, managing director, BA World Cargo said: “While volumes and yields improved in the third quarter it is by no means certain that we are on a straight path to recovery. However, I am cautiously optimistic that we will continue to see gradual improvements in overall market conditions over the course of the year and having reduced our cost base significantly over the past twelve months, we are in a strong position to take advantage of a more robust economic climate.”

BAWC has cut capacity over the nine months by 4.9 per cent.

Overall yield (commercial revenue per cargo tonne kilometre) decreased by 21.7 per cent versus last year. Excluding the impact of exchange rate movements, yield decreased by 30 per cent. Taking the third quarter in isolation, yield declined by 15.9 per cent.

Financial controller Rachel Izzard said: “We’ve seen a marked improvement in the third quarter of our financial year, helped by a particularly strong peak, but there’s still a long way to go until we return to the level of performance we last saw in 2007.

“Our premium product portfolio continues to perform well, particularly our temperature sensitive shipment product Constant Climate which has now been rolled out across more than 50 stations throughout our network.”

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