Volga-Dnepr improves revenue, volumes

Volga-Dnepr improves revenue, volumes

   Volga-Dnepr Group, the outsize and heavyweight cargo airline, said Monday its revenues increased 48.8 percent for the first nine months of 2003 to $172 million, compared to the year-earlier period.

   Volume for the nine month period ended Sept. 30 increased 34 percent to 46,000 tons.

   The company credited the growth in demand for its Antonov 124-100 fleet to increased volumes of humanitarian and peace-making missions throughout the world.

   Due to cargo transported on behalf of government organizations, Volga-Dnepr's strongest routes for the nine months were Europe/Middle East up 23 percent; North America/Middle East up 14 percent; and Europe/Asia up 10 percent.

   The growth in humanitarian cargo more than offset declines in outside and super-heavy cargo, the company said.