British Airways World Cargo First Quarter Results (31/07/2009)

British Airways World Cargo has reported commercial revenue (flown revenue plus fuel surcharges) of £128 million for the first quarter of the financial year beginning April 2009. This represents a decrease of 28.1 per cent against the same period last year, including a strong exchange movement year on year

Volumes of 1095 million cargo tonne kilometres (CTKs) for the quarter represent a decrease of 11.5 per cent versus the same period last year. Cargo capacity for the same period was down 6.5 per cent.

Overall yield (commercial revenue per CTK) decreased by 19 per cent versus last year, driven by lower fuel surcharges and favourable exchange.

Sean Doyle, financial controller, BA World Cargo, comments, "Demand for general airfreight in the first quarter of the year has declined across all markets, though our premium volumes have performed relatively well given the economic conditions. Europe, the US and Asia Pacific have been hit particularly hard with yields falling as a result of declining fuel surcharges and over-capacity in the market."

Sean Doyle, financial controller, BA World Cargo, comments, "Demand for general airfreight in the first quarter of the year has declined across all markets, though our premium volumes have performed relatively well given the economic conditions. Europe, the US and Asia Pacific have been hit particularly hard with yields falling as a result of declining fuel surcharges and over-capacity in the market."