Virgin Atlantic Cargo reports 39% growth in 2010/2011 revenues

Virgin Atlantic Cargo today announced revenues for the 2010/2011 financial year up 39% to £224.4 million.

Strong performance across its network saw tonnage carried on the Virgin Atlantic and V Australia networks climb to nearly 227,000 tonnes, a 17% increase on the previous year. Europe, the Middle East and Africa (EMEA), Asia Pacific and the Americas reported tonnage increases in 2010/11 of 19%, 13% and 16% respectively.

Virgin Atlantic Cargo’s revenues in the three regions also recorded significant gains. In EMEA, sales were up 47% over 2009/10, Asia Pacific revenues rose 41% and the Americas was 29% ahead of last year.

John Lloyd, Director of Virgin Atlantic Cargo, said: “Even in a year when air cargo volumes across the industry were recovering, this is a fantastic result and a tribute to our team around the world for consistently providing the exceptional levels of customer service that help to set us apart from other airlines. Our partnership with V Australia once again had a strong impact on our results and this is a model we believe we can successfully implement with other airlines to deliver positive and mutual benefits.”

Steve Ridgeway, CEO of Virgin Atlantic, added: “We are an airline that truly understands the value of air cargo and its importance to our overall success. Our award-winning cargo service has delivered a substantial increase in contribution to the airline in the last 12 months and that is a tribute to our outstanding team at Virgin Atlantic Cargo.”