Volga-Dnepr Group / Press-center / Media Coverage

Volga-Dnepr Revenue Tops $1B

04/07/2008

Volume growth in heavy cargo projects and scheduled air freight boosted revenue for the Volga-Dnepr Group to $1.045 billion in 2007.

Revenue increased 51 percent due to a 62 percent surge to $767 million in income from charters for outsize and heavy cargoes and a 32 percent gain for the group's scheduled cargo airline, AirBridgeCargo, to more than $300 million. The volume of cargo carried by the group during the year grew 41 percent to 212,900 tons. The company carried more than half of the world's heavy cargo in 2007 and said its market share is still growing.

In order to handle the higher volume, the group upgraded its fleet. The AN-124-100M-150 gained certification. And in September, Volga-Dnepr Airlines took delivery of its second upgraded IL-76TD-90VD. Three more Ilyushins will be delivered in 2009-2010. In November, AirBridgeCargo Airlines received its first Boeing 747-400ERF aircraft. The -400ERF is the sixth 747 freighter in the fleet. Two more will be delivered in the first half of 2008. The group has ordered five new 747-8F freighters for delivery between 2010 and 2013, with an option for five more.

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