Record year at Virgin
18 / 10 / 2012
VIRGIN Atlantic Cargo has reported its best ever financial year.
The seven per cent year-on-year growth to US$375.4m is the best it has ever produced.
The historic result comes despite a five per cent year-on-year fall in tonnage.
Performance was stronger in Europe, Middle East and Africa and the Americas, each reporting increases in revenue of between 13 per cent and 15 per cent. However, revenues from the Asia-Pacific region were down seven per cent.
Virgin Australia, continued to perform strongly, with revenue up by 25 per cent – in part thanks to increases in tonnage.
John Lloyd, Director of Virgin Atlantic Cargo, says: “What marks this result as particularly significant is that it was achieved in the context of both a marginal decline in our share of capacity and in a year when total market volumes failed to grow.
“At the root of our second successive year of record cargo revenues was a series of internal initiatives designed to improve our efficiency.”
