IAG Cargo announces Q3 decline
31 / 10 / 2019
Madrid is one of the fastest growing and largest cargo hubs in Europe
IAG Cargo saw its third-quarter revenues slide by 9% compared to the July–September period of last year, to €269mn ($300mn).
Tonnage dropped by 5.7%, yield by 4.2%, FTKs by 4.9% – and capacity was cut by 0.1% year on year.
Lynne Embleton, IAG Cargo chief executive, said: “Revenue for the quarter reflected the industry-wide decline in airfreight and weakening of global trade.
“Despite the general weakness in the market, our network breadth has allowed us to take advantage of relatively robust demand for our fresh and premium products,” she pointed out.
During the quarter, IAG Cargo announced its partnership with Cargo Signal to provide customers using its premium products with a comprehensive monitoring and tracking service for shipments through mobile and web applications. Embleton said the new service “offers unrivalled end-to-end cargo monitoring including location, live light and temperature data and humidity readings”.
Looking ahead, she added: “Moving into the busiest period in the air cargo calendar we remain focused on delivering for our customers and investing in the future of our business.”
IAG Cargo (part of International Airlines Group) includes British Airways World Cargo, Iberia Cargo, Aer Lingus and Vueling, and serves over 350 destinations worldwide.