British Airways will add three 747-8 freighters, Boeing’s latest-generation aircraft, to its fleet, dramatically scaling up its capabilities in a cargo business that expanded more than 36 percent in the latest quarter, the carrier said Friday.
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, when they will replace three 747-400s in operation for BA World Cargo.
“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 Journal of Commerce Online
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