British Airways World Cargo first quarter results in line with expectations (31/07/2003)

British Airways World Cargo (BAWC) has reported flown revenues of £118 million for the first quarter of the financial year 2003/2004. After adjusting for exchange, this shows a 3.7 per cent decrease over the same period last year.

During the same period, although the airline saw a 3.1 per cent reduction in cargo capacity, load factors improved by 2.1 points over the quarter.

Gareth Kirkwood, Managing Director, BAWC said: "Our quarter one results are in line with our expectations, given the external factors that continue to have an impact on our business.

"The first three months of this financial year saw us operating in a very challenging business environment. We were dealing with the impact of the war in Iraq as well as the effect of the SARS outbreak."

Kirkwood concluded: "Both the airline and our customers will continue to operate in challenging conditions and we will remain focussed on maintaining consistent customer service levels and ongoing financial stability."