BAWC upgrades to Boeing 747-8F
10 / 08 / 2010
BRITISH Airways World Cargo (BAWC) reported commercial revenue (flown revenue plus fuel surcharges) of £175 million for the first quarter of the financial year beginning April 2010. This represents an increase of 36.7 per cent against the same period last year. Excluding the impact of favourable exchange rate movements, commercial revenues were up 34.6 per cent.
Volumes of 1.1 million cargo tonne kilometres (CTKs) for the quarter year represent an increase of 2.1 per cent versus the same period last year. Cargo capacity for the same period was down 4.7 per cent.
Overall yield (commercial revenue per CTK) increased by 33.9 per cent versus the same period last year. Excluding the impact of exchange rate movements, yield increased by 31.8 per cent.
Rachel Izzard, financial controller, BA World Cargo, said: “It is important to note that this quarter was subject to schedule disruptions,” referring to strikes by BA cabin crew. “However,” she continued, “our freighters, trucking network and flexible scheduling arrangements meant we were able to minimise the impact of the disruption to our customers.”
Steve Gunning, managing director, BA World Cargo comments: “We have made a good start to the year and we are pleased to see yield levels improving alongside capacity. It is encouraging to see the improvement in yields. However, it is imperative that the introduction of capacity in the market remains rational and measured.”
BAWC has signed a five-year wet lease agreement with Global Supply Systems Limited (GSS), which will see its three Boeing 747-400 freighters replaced with new Boeing 747-8 freighters in early 2011. Further to its agreement with British Airways World Cargo, GSS will dry lease the freighters from Atlas Air.
The 747-8F has an increased range of 4,475 nautical miles (8,275 km), as well as 16 per cent more cargo volume than the 747-400F. This means it is able to hold seven additional pallets, while maintaining the same nose and door loading capabilities for industry-standard 10-foot high pallets.