Virgin Atlantic cargo revenue in 2011-12 up

The performance comes in challenging times and a decline in capacity

Africa Americas challenging 2011-12 Europe John Lloyd Middle East revenue increase Virgin Atlantic Cargo

Virgin Atlantic Airways’ cargo revenue increased by 7 per cent to $ 374 million (£239.6 million) during the challenging 2011-12 financial year though tonnage was down by five per cent year-on-year. The carrier saw strong performance in Europe, Middle East and Africa and the Americas, each reporting increases in revenue of 13 per cent and 15 per cent, respectively in the year. Virgin Atlantic Cargo director John Lloyd termed the result as “particularly significant” because it was achieved in the context of “both a marginal decline” in capacity and in a year when “market volumes failed to grow”.