Volga-Dnepr revenue up 55%
Russia's Volga-Dnepr Group, parent company of Volga-Dnepr Airlines and AirBridge Cargo, said Tuesday its group sales after nine months increased 55 percent to a record $486.9 million.
The group did not publish net or operating results, but said that 'on the whole the business is profitable and is growing.'
Revenue generated by Volga-Dnepr Airlines' Antonov AN124-100 and Ilyushin IL-76 cargo charter services rose 14 percent and 129 percent respectively, the group said.
According to IATA studies, the airline now controls 55 percent of the outsize and heavyweight cargo sector, up from 53 percent in 2005.
The group's scheduled cargo airline, AirBridge Cargo, which uses four Boeing 747 freighter planes, posted revenue of $156.8 million after three quarters, up 133 percent from $67.2 million last year. The airline's cargo volume jumped 108 percent to 54,761 tons.
In total, the group moved 95,388 tons of freight on domestic and international routes in the nine months, putting it ahead of Aeroflot as Russia's largest cargo airline, according to statistics compiled by TKP.
AirBridge Cargo took delivery in July of its fourth aircraft, a non-converted 747-200F obtained under a lease agreement with Nippon Cargo Airlines. The additional plane allowed it to double its frequencies between Japan, Russia and Europe to four times a week. During the nine month period, AirBridge Cargo also reintroduced scheduled services from Luxembourg to Moscow's Domodedovo Airport and flights from Frankfurt to Novosibirsk.
Stan Wraight, vice president of Volga-Dnepr, scheduled cargo operations, said AirBridge Cargo's focus is to increase the frequencies of its existing services before it opens up into new markets, but confirmed that its planned round-the-world service will definitely call at Houston, with other North American destinations still undecided. The U.S. West Coast is not a priority, he said. The airline also has plans to move into the India and South America markets.
The same lease agreement with NCA will see AirBridge Cargo get another two 747-200Fs in February and March next year, and by early 2008 the airline will have received its first new-builds: two Boeing 747-400 Extended Range freighters with a $450 million list price.
The group estimates total revenue for the full year of $639 million, which would be a 36.6 percent improvement over the $467.8 million posted in 2005.