Steve Gunning, managing director of BAWC, said: “The increased range and the environmental benefits that the 747-8F provides will significantly benefit our customers.

“Long-haul freighters form an integral part of our overall business strategy – providing flexibility and capacity on resilient and growing lanes – as we strive for continued excellence in all key areas of the business, including product range, customer service and, of course, network offering. I am also pleased to be continuing our relationship with our long-term freighter partners, GSS and Atlas Air,” he added.

The 747-8 freighter has a range of 4,475 nautical miles (8,275 km) and 16 percent more capacity - equivalent to seven pallet positions - than the 747-400. The first aircraft will be delivered to Cargolux this autumn.

William Flynn, president and CEO of Atlas Air Worldwide Holdings, noted: “Through GSS, our new aircraft will give BA World Cargo increased capacity and revenue-generating capability in a growing airfreight market.”

BA has reported first quarter 2010 revenues of £175 million ($273 million) – an increase of 36.7 percent over the same period last year. Cargo capacity dropped 4.7 percent year-on-year as cargo tonne kilometers rose 2.1 percent to 1.1 million.

Yield increased 33.9 percent over the first quarter 2009. The company said this was “driven partly by an improved premium product mix and underlying market conditions”.