UK carrier British Airways says total traffic for the month of July was up one per cent, capacity was down 2.7 per cent from a year ago and passenger load factor was up 3.1 per cent compared to last year. The remaining northern summer holiday months are expected to help all European carriersÃ¢â‚¬™ loads and yields, but BA added that yields will be Ã¢â‚¬Å“under pressure from the year-on-year impact of lower fuel surcharges, exchange movements and mixÃ¢â‚¬Â. BAÃ¢â‚¬™s cargo business has been hit even harder, with Ã¢â‚¬Å“significant excess capacity driving lower pricesÃ¢â‚¬Â. Cargo revenue collapsed by 28.1 per cent in the first quarter, as freight tonne-kilometres (FTKs) declined by 11.5 per cent and cargo yields fell 18.8 per cent, Ã¢â‚¬Å“driven by lower levels of fuel surcharges as the oil price fell and significant price declinesÃ¢â‚¬Â.
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