British Airways World Cargo has reported a reduction in commercial revenues (fl own revenues plus fuel surcharges) of 11.5 percent to £146 million for the fi rst quarter of its fi nancial year (April-June 2007) on the same period the previous year and down 7.3 percent after the effects of exchange rate movements are removed. Overall yields (revenue per cargo tonne kilometre – CTK) were down by 3.8 percent excluding exchangeeffects.

“Exchange rate movements and the weakened dollar have had a signifi cant impact on the headline revenue fi gure. Cargo capacity has been reduced as we have been operating three longhaul freighters in the fi rst quarter of this year compared to four last year. The capacity decline also refl ects the impact of baggage changes – including the policies imposed by the Department for Transport last August – which has led to reduced cargo belly hold space,” BA World Cargo’s fi nancial controller, Sean Doyle, said in a statement.

“The decline in yields refl ects challenging market conditions, lower levels of fuel surcharges and a change in our destination mix as a result of declining demand for Americas-destined freight. Market-wise, the US export market is performing well for us and we have seen a steady performance from Asia Pacifi c, the Middle East and South Asia,” he added.