7-Aug-2012 2:57 PM

Virgin Atlantic Cargo reports second consecutive year of record revenue growth in FY2012

Virgin Atlantic Cargo reported (06-Aug-2012) its best financial performance in its 28-year history with a 7% year-on-year increase in revenue to GBP239.6 million for the 12 months ended 29-Feb-2012. The cargo carrier attributed the result to a 12% increase in yield and a 5% increase in cargo volume. Revenue from Europe, Middle East and Africa (+13%) and Americas (+15%) was strong while revenue from Asia Pacific region fell 7%. The carrier also reported a 25% increase in revenue from joint venture partners including Virgin Australia. [more – original PR]

Virgin Atlantic Cargo: “At the root of our second successive year of record cargo revenues was a series of internal initiatives designed to improve our efficiency. A five per cent increase in our yield premium and substantial improvements in our cost base represent the fruits of our efforts and underpin another tremendous result,” John Lloyd, director. Source: Company statement, 06-Aug-2012.