Full Year Revenue Results April 2005 - March 2006 (19/05/2006)

British Airways World Cargo has reported flown revenues of £498 million for the full financial year ending 31 March 2006, an increase of 3.3% against the same period last year. When the exchange rate effect is removed flown revenues stand at £486 million, a slight increase of 0.8% over the financial year.

Yield (revenue per Cargo Tonne Kilometre (CTK)) was up 3.8% over the year. When the exchange rate effect is removed, yield increased 1.2% against the same period last year. Year on year volumes stand at 4,933 million CTKs, a marginal decrease of 0.4%.

Sean Doyle, head of finance, BA World Cargo comments: "Our full year figures show a respectable performance in what has been a challenging year where price has been under pressure in every market. However, by optimising our business and improving our product and destination mix in line with customer demand we have subsequently increased yield.

"Our expanded shorthaul freighter programme, increased rotations across the APACME region and focus on premium products, including Courier and Express, have been particularly well received. However, stronger results have been offset primarily by the adverse impact of decreasing volumes and price pressure, in particular out of Europe and Africa."

Gareth Kirkwood, managing director, BA World Cargo adds: "Our focus this year has been on maximising profitable routes and products in accordance with customer demand and these are solid results for BA World Cargo. The premium sector has performed particularly well and, having listened to our customers, 2006 will see offering further strengthened with the opening of the new premium facility - a £15m investment - at London Heathrow in the autumn."