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Bruce Barnard | Jul 30, 2010 3:00PM GMT
The Journal of Commerce Online - News Story
Cargo Airlines | International Air | Air + Expedited
Freighters allow for 16 percent more cargo space
British Airways will add three 747-8 freighters, Boeing’s latest-generation aircraft, to its fleet, the carrier said Friday, dramatically scaling up its capabilities in a cargo business that expanded more than 36 percent in the latest quarter.
BA signed a five-year wet lease agreement with Global Supply Systems, a subsidiary of Atlas Air Worldwide Holdings, to operate the freighters starting in early 2011.
“BAWC is a vital link in the global logistics chain, and it will be one of the first air carriers in the world to benefit from the 747-8F’s leading-edge technology,” William J. Flynn, President and Chief Executive Officer of AAWW, said.
The 747-8 freighters allow for 16 percent more cargo volume, which means it can accommodate seven additional pallets.
BA’s Cargo revenue grew by 36.7 percent in the quarter from a year ago and cargo yields jumped 33.9 percent, driven by demand, cargo mix and fuel surcharges.
Cargo volume, measured in cargo tonne kilometres, increased by 2.1 percent.
The company also announced it still expects to break even for the full year despite booking wider first quarter losses after strikes and a volcanic ash cloud grounded flights.
The $254 million net loss in the three months to June 30 compared with a $229 million loss in the 2009 period, was the carrier’s eighth consecutive quarterly deficit and took cumulative losses in the past two years to $1.3 billion.
Revenue rose 2.3 percent to $2.99 billion.
But the carrier’s underlying financial performance is improving, according to BA chief executive Willie Walsh.
“The trends in our passenger and cargo traffic continue to be positive with yields up and costs down,” Walsh said.
BA recently got the green light from European regulators to merge with Spain’s Iberia as well as the final go-ahead from the US to form a transatlantic alliance with American Airlines.
http://www.joc.com/air-expedited/ba-adding...reighters-fleet
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British Airways World Cargo Upgrades Freight Fleet
To Boeing 747-8f In New Deal With Global Supply Systems.
British Airways World Cargo today announced that it has signed a five-year wet lease
agreement with Global Supply Systems Limited (GSS), which will see its three Boeing
747-400 freighters replaced with new Boeing 747-8 freighters in early 2011. Further to
its agreement with British Airways World Cargo, GSS will dry lease the freighters from
Atlas Air.
The contract represents a significant investment by British Airways World Cargo. The
three new Boeing 747-8f aircraft will be registered in the United Kingdom and operate
to our existing schedule maintaining regular services through STN, HKG, FRA, PVG,
ORD, DEL amongst others.
It has also been agreed that the new 747-8fs will be delivered in British Airways livery
and incorporate the British Airways World Cargo logo.
Steve Gunning, managing director of British Airways World Cargo says: “
Our investment in the new Boeing 747-8f reinforces our commitment to the air cargo
industry and demonstrates the importance British Airways places on cargo. The
increased range and the environmental benefits that the 747-8f provides will
significantly benefit our customers. Long-haul freighters form an integral part of our
overall business strategy – providing flexibility and capacity on resilient and growing
lanes – as we strive for continued excellence in all key areas of the business, including
product range, customer service and, of course, network offering.
“I am also pleased to be continuing our relationship with our long-term freighter
partners, GSS and Atlas Air.”
The Boeing 747-8 freighter provides an enhanced environmental performance owing to
its new benchmark in fuel efficiency and noise reduction. The 747-8f has an increased
range of 4,475 nautical miles (8,275 km), as well as 16% more cargo volume than the
747-400f. This means it is able to hold seven additional pallets, while maintaining the
same nose and door loading capabilities for industry-standard 10-foot high pallets.
“BA World Cargo is a vital link in the global logistics chain, and it will be one of the
first air carriers in the world to benefit from the 747-8 freighter’s leading-edge
technology,” says William J. Flynn, President and Chief Executive Officer of Atlas Air
Worldwide Holdings. “Through GSS, our new aircraft will give BA World Cargo
increased capacity and revenue-generating capability in a growing airfreight market.”
The Journal of Commerce Online - News Story
Cargo Airlines | International Air | Air + Expedited
Freighters allow for 16 percent more cargo space
British Airways will add three 747-8 freighters, Boeing’s latest-generation aircraft, to its fleet, the carrier said Friday, dramatically scaling up its capabilities in a cargo business that expanded more than 36 percent in the latest quarter.
BA signed a five-year wet lease agreement with Global Supply Systems, a subsidiary of Atlas Air Worldwide Holdings, to operate the freighters starting in early 2011.
“BAWC is a vital link in the global logistics chain, and it will be one of the first air carriers in the world to benefit from the 747-8F’s leading-edge technology,” William J. Flynn, President and Chief Executive Officer of AAWW, said.
The 747-8 freighters allow for 16 percent more cargo volume, which means it can accommodate seven additional pallets.
BA’s Cargo revenue grew by 36.7 percent in the quarter from a year ago and cargo yields jumped 33.9 percent, driven by demand, cargo mix and fuel surcharges.
Cargo volume, measured in cargo tonne kilometres, increased by 2.1 percent.
The company also announced it still expects to break even for the full year despite booking wider first quarter losses after strikes and a volcanic ash cloud grounded flights.
The $254 million net loss in the three months to June 30 compared with a $229 million loss in the 2009 period, was the carrier’s eighth consecutive quarterly deficit and took cumulative losses in the past two years to $1.3 billion.
Revenue rose 2.3 percent to $2.99 billion.
But the carrier’s underlying financial performance is improving, according to BA chief executive Willie Walsh.
“The trends in our passenger and cargo traffic continue to be positive with yields up and costs down,” Walsh said.
BA recently got the green light from European regulators to merge with Spain’s Iberia as well as the final go-ahead from the US to form a transatlantic alliance with American Airlines.
http://www.joc.com/air-expedited/ba-adding...reighters-fleet
------------------------------------------------------------------------------------
British Airways World Cargo Upgrades Freight Fleet
To Boeing 747-8f In New Deal With Global Supply Systems.
British Airways World Cargo today announced that it has signed a five-year wet lease
agreement with Global Supply Systems Limited (GSS), which will see its three Boeing
747-400 freighters replaced with new Boeing 747-8 freighters in early 2011. Further to
its agreement with British Airways World Cargo, GSS will dry lease the freighters from
Atlas Air.
The contract represents a significant investment by British Airways World Cargo. The
three new Boeing 747-8f aircraft will be registered in the United Kingdom and operate
to our existing schedule maintaining regular services through STN, HKG, FRA, PVG,
ORD, DEL amongst others.
It has also been agreed that the new 747-8fs will be delivered in British Airways livery
and incorporate the British Airways World Cargo logo.
Steve Gunning, managing director of British Airways World Cargo says: “
Our investment in the new Boeing 747-8f reinforces our commitment to the air cargo
industry and demonstrates the importance British Airways places on cargo. The
increased range and the environmental benefits that the 747-8f provides will
significantly benefit our customers. Long-haul freighters form an integral part of our
overall business strategy – providing flexibility and capacity on resilient and growing
lanes – as we strive for continued excellence in all key areas of the business, including
product range, customer service and, of course, network offering.
“I am also pleased to be continuing our relationship with our long-term freighter
partners, GSS and Atlas Air.”
The Boeing 747-8 freighter provides an enhanced environmental performance owing to
its new benchmark in fuel efficiency and noise reduction. The 747-8f has an increased
range of 4,475 nautical miles (8,275 km), as well as 16% more cargo volume than the
747-400f. This means it is able to hold seven additional pallets, while maintaining the
same nose and door loading capabilities for industry-standard 10-foot high pallets.
“BA World Cargo is a vital link in the global logistics chain, and it will be one of the
first air carriers in the world to benefit from the 747-8 freighter’s leading-edge
technology,” says William J. Flynn, President and Chief Executive Officer of Atlas Air
Worldwide Holdings. “Through GSS, our new aircraft will give BA World Cargo
increased capacity and revenue-generating capability in a growing airfreight market.”
