Virgin Atlantic Cargo reports H1 results amid concerns of industry overcapacity

Virgin Atlantic Cargo has published its results for the first half of 2014, in which it saw cargo tonnage rise 1% in the first six months of 2014 to 111,196 tonnes, and a 3% increase in its load factor to 76% network-wide.The increases were achieved despite a 3% reduction in the airline’s cargo capacity in the six months to the end of June. However, overcapacity in the industry on major routes continued to suppress yields. John Lloyd, Director of Cargo, said: “In terms of revenue, we are slightly ahead of our target for the year but the level of capacity some