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IAG Cargo 2019 Q2 financial results

IAG Cargo has today announced its Q2 2019 results, reporting revenues of €281m over the period from April 1 to June 30, 2019, a decrease of 3.2 per cent on 2018 at constant exchange.

Sold tonnes were down 1.1 per cent, whilst yield for the quarter was down 2.9 per cent at constant exchange. CTK volumes were also down 0.4 per cent and capacity grew by 2.6 per cent change.

Lynne Embleton, CEO at IAG Cargo, commented:

“Industry data continues to show a year on year decline in the global airfreight market. IATA forecasts remaining depressed with indicators including the Global Purchasing Manager Index show a month-by-month contraction in new export orders. As our business is linked to global trade, our reported revenue reflects the difficult market conditions.

“Whilst our influence on short term market performance remains limited, our focus on implementing long term transformation for our business and leading the industry in investment and digital innovation remains unchanged. In June, we announced the latest development in our APIs, giving customers the ability to seamlessly add our network to their own booking systems. Our API development has also enabled us to integrate with e-booking platforms from major distribution partners. The development of IAGCargo.com now forms a core pillar of our customer offering, with improvements being deployed bi-monthly, greatly enhancing our customer experience. We are now taking 28% of our total global bookings online saving customers significant time in the booking process.

“As we continue to innovate in our operations, we have been working alongside the 2018 Hangar 51 finalist Emu Analytics on real-time telematics analysis and data to track and improve our airside performance, allowing us to make data-driven operational decisions which are helping to improve our efficiency and performance. Applications for the fourth Hangar 51 global innovation programme opened in June, and we look forward to seeing the latest innovations in technology and logistics in the Cargo category to find solutions for the air cargo environment. “Going into the second half of 2019, we remain focused on investing in the future of our business to enhance how we deliver for our customers.”

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