Virgin Atlantic Cargo's growth projected to outpace industry forecast
Virgin Atlantic Cargo’s results for the 2012-2013 financial year were on par with its best-ever figures in 2011-2012.
Virgin Atlantic reported revenues of US$350 million for 2012-2013.
The airline carried 214,737 tonnes in 2012-2013, a drop of 0.91 percent year over year. The average overall industry decline is 4.5 percent.
“Our result compares very positively with the industry average, particularly when you take into account that the markets we serve across the Atlantic, the Far East, Middle East and Africa were the regions most affected by challenging economic conditions. As well as remaining competitive on price, I believe it is our passion for customer service that means customers around the world have stayed loyal to us,” John Lloyd, director of Virgin Atlantic Cargo, said. “We have also seen more transshipment traffic between India and the U.S., supported by the return of flights to Mumbai and the addition of a fourth daily frequency to New York JFK.”
During the 2012-2013 year, Virgin Atlantic Cargo increased its market share on 30 routes.
The industry forecast for 2013-2014 is for a marginal growth of 1.4 percent, but Lloyd said he is optimistic that revenues from Australia, improvements out of the U.S. East Coast and growth from Japan and China will boost Virgin Atlantic Cargo’s performance.