The original British Airways Cargo operation was closed down and the B707s and brand new B747-236F sold on as it wasn't making money. Very few airlines fly a dedicated cargo fleet, most recently Delta closed down NWA Cargo.
Lufthansa Cargo was built on the shell of the old German Cargo initially, Air France Cargo is a fraction of it's former size. Had BA taken in house the cargo operation as it stands, the cost base would have been higher. Commercially it's an arms length company or nothing I think.
Last edited by Skipness One Echo; 13th Aug 2012 at 14:36.