BA World Cargo’s first half revenue down 8.8%

BA World Cargo’s first half revenue down 8.8% British Airways World Cargo posted revenue of '290.4 million ($592 million) for the first half of its financial year beginning April 1, a drop of 8.8 percent compared to the same period last year.
   Cargo capacity measured in available ton kilometers (ATK) decreased 4 percent compared to the same period last year, with volumes down 1.6 percent to 2.36 billion cargo ton kilometers (CTK). Overall yield (commercial revenue per CTK) fell 3.8 percent excluding exchange effects.
   “The decline in yield reflects lower levels of fuel surcharges compared to the same period last year and a change in our destination mix due to falling demand for North America destined freight,” said Sean Doyle, financial controller BA World Cargo. “We’ve seen good volume performance out of the U.S., Asia Pacific and the Middle East and a solid recovery in Japan. Volumes from Europe are encouraging but yield is under pressure and the U.K. is experiencing strong volume and price pressure.”