Commercial revenues and yield up, volumes down at IAG Cargo

IAG Cargo’s commercial revenues were up 10.9 per cent to €276 million in the first quarter of the year.

The cargo division of the International Consolidated Airlines Group (IAG) which has today had two bids for Norwegian rejected, includes British Airways, Iberia, Vueling, Aer Lingus and Level and was reporting its financial figures for the period from 1 January to 31 March.

IAG Cargo’s overall yield for Q1 was up 11.8 per cent but volumes were down 0.7 per cent, and capacity grew by 3.6 per cent.

Chief executive officer, Lynne Embleton says a “buoyant premium market” has continued into Q1 of 2018.

“We’ve experienced good market conditions across the majority of our regions, with Europe and Asia Pacific – and particularly India – leading the way. Our specialist pharmaceutical offering, Constant Climate, has delivered continued growth, moving life-saving vaccines across the globe,” she added.

Embleton also said IAG Cargo’s ‘Critical’ product has surpassed 4,000 shipments since its launch and has recently moved a variety of goods ranging from orthopaedic prosthetics and snowboards, to the world’s most expensive perfume.