Virgin Cargo exceeds expectations in 2013
Company says that "highest ever cargo load" reached in 2013 with Asia Pac hauling in the biggest gains.
April 25, 2014
Virgin Atlantic Cargo has reported a healthy turnover of US$378.8 million for 2013, exceeding expectations in a challenging global market.
The year ended December 31st 2013 saw the airline achieve the highest ever average cargo load factor in its 30-year history of 76 per cent, up six per cent year-on-year and well ahead of the industry average.
Asia Pacific produced Virgin Atlantic’s biggest cargo gains in 2013 with a 12 per cent increase in tonnage and a three per cent rise in revenues. Tonnage on its Americas network was five per cent higher and the Europe, Middle East and Africa region grew three per cent.
Tonnage carried by Virgin Atlantic was five per cent higher at 224,500 tonnes in 2013 in a market that declined 0.5 per cent overall. Revenues were down three per cent compared to the previous year, reflecting the airline’s seven per cent reduction in capacity over the year.
John Lloyd, Director of Cargo for Virgin Atlantic, said: “Our 2013 results show that we outperformed the market for a second consecutive year and increased our share by five per cent at a time when many of our major competitors’ businesses were in decline. The excessive amount of cargo capacity that started to return to the market in 2013 continued the downward pressure on yields but we have clearly been more successful in managing this challenge than many other carriers.”