Strong six month performance for British Airways World Cargo (05/11/2002)

British Airways World Cargo has delivered a strong financial performance over the first six months of the Financial Year 2002-3, with total revenue improving to £283 million for the period ending September 30, 2002, a four per cent increase on the same period last year. This increase has been generated despite 6.7 per cent less available capacity as a result of the airline's Future Size and Shape strategy.

The financial performance has been achieved through a significant improvement in service levels, particularly through the airline's London hub, and a strong performance in key markets.

In particular, British Airways World Cargo reported that route traffic from Africa and Asia remained buoyant but experienced difficult trading conditions in US and UK markets. Traffic in Europe continues to be slightly down on last year as a result of the continuing strength of the Euro, which affected trading conditions.

The volume of cargo traffic carried across the airline's international network increased by 3.6 per cent to 2,099m Cargo Tonne Kilometres (CTKs) from 2,026m CTKs in the same period 2001/2002.

As a result of the reduced mainline capacity available, load factors including freighters increased by six per cent to 65 per cent versus the same period last year.

Gareth Kirkwood, Managing Director, British Airways World Cargo said: "I am delighted with this performance, which shows the hard work the whole global team has put into improving the quality of our service to customers is now beginning to pay off. There is always more we can do but we have come a long way in a very short period of time."

Mr Kirkwood said customer feedback on the launch of the new products in the summer had helped the carrier's recovery.

He commented: "The feedback from our customers has been very positive. The clarity and simplicity of our product range and the higher levels of service quality have been applauded by many of our customers."