IAG Cargo climbs

INTERNATIONAL Airlines Group (IAG Cargo), holding company of BA World Cargo and Iberia Cargo, has reported volumes of 3,066 million freight tonne kilometres (FTKs) for the 2011 half-year, representing an increase of 8.3 per cent versus the same period last year.
Cargo capacity for the same period was up 8.6 per cent. Commercial revenue (flown revenue plus fuel surcharges) of €592m (US$854m) in the half, representing an increase of 16.3 per cent against the same period last year.
Overall yield (commercial revenue per FTK) increased by 7.3 per cent versus the same period last year.
“The next six months will also see considerable progress as we merge our products and offer customers improved flexibility and quality services,” Steve Gunning, managing director of IAG Cargo comments.
“Our first half yields improved, however yield development slowed in the second quarter. Market conditions became more sluggish and were set against a background of significant increases in market capacity.
Concerns surrounding the Chinese export market and austerity measures in Europe are being monitored as we assess the risk they represent to both future demand growth and yield.”