IAG Cargo receives -8F

IAG Cargo has taken delivery of the first of three 747-8 freighters.

The freighters, through IAG brand British Airways World Cargo, will be supplied through a five-year wet lease agreement with Global Supply Systems Limited (GSS), a UK affiliate of Atlas Air, owner of the aircraft. British Airways World Cargo has wet-leased freighters from GSS since 2002.

The new 747-8 freighters will replace IAG Cargo’s current fleet of 747-400Fs. The new aircraft will be able to hold a further seven pallets and has a maximum payload capacity of 133.9 metric tonnes. The -8F will be the first freighter aircraft since 2000 to be branded with British Airways’ livery.

The aircraft will serve existing schedules to destinations including Stansted (UK), Hong Kong (China), Frankfurt (Germany), Pudong (China), Chicago (US), Delhi (India), as well as new routes through Nairobi (Kenya), Madrid (Spain) and Johannesburg (South Africa).

“The investment by IAG Cargo, through British Airways World Cargo, in these three new aircraft clearly signals our intent and commitment to the air cargo industry,” Steve Gunning, managing director of IAG Cargo says. “In addition to the extended global network offered through IAG Cargo, our freighters will provide customers with increased capacity and, for the first time, freighter routes to Nairobi and Johannesburg.”

For the month of September, total IAG Cargo revenue tonne kilometres increased 3.7 per cent to 1.93 billion. Cargo tonne kilometers (CTK) grew 1.6 per cent to 497 million, and available tonne kilometres rose 4.2 per cent to 2.55 billion from the previous year. Total overall load factor edged down 0.4 per cent to 75.5 per cent from last year.

For the third quarter IAG Cargo has reported commercial revenue (flown revenue plus fuel surcharges) of €288 million (US$398 million), up against €287 million ($397 million) in the same period last year. For the year to date, from 1 January to 340 September, IAG Cargo reported commercial revenue of €880 million ($1.215 billion), an increase of 10.6 per cent on the same period in 2010.

Volumes of 1,494 million cargo tonne kilometres (CTKs) for the quarter represent an increase of 1.2 per cent versus the same period last year. For the nine months from 1 January, the figure is 4,560 million CTKs, an increase of 5.3 per cent on the same period in 2010. Cargo capacity for the quarter was up 3.3 per cent and 6.2 per cent for the year to date.

Overall yield (commercial revenue per CTK) decreased by 0.8 per cent versus the same period last year but excluding exchange is up 6.4 per cent, driven by positive premium product volumes and increases in fuel surcharges, partially offset by market price pressure. For the year to date, overall yield increased by 4.9 per cent and, excluding exchange, by 7.8 per cent.