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IAG Cargo 2019 Q3 financial results

IAG Cargo has today announced its Q3 2019 results, reporting revenues of €269m over the period from July 1 to September 30, 2019, a decrease of 9.0 per cent versus last year at constant currency.

Sold tonnes were down 5.7 per cent, whilst yield for the quarter was down 4.2 per cent at constant currency. CTK volumes were also down 4.9 per cent and capacity was down by 0.1 per cent.

Lynne Embleton, CEO at IAG Cargo, commented:

“Revenue for the quarter reflected the industry wide decline in air freight 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.”

“We have continued to invest in our operation developing new customer solutions. This quarter we announced our partnership with Cargo Signal to provide customers using our premium products with a comprehensive monitoring and tracking service for shipments through mobile and web applications. The new service offers unrivalled end-to-end cargo monitoring including location, live light and temperature data and humidity readings.”

“Our efforts to grow our small-to-medium-sized customer base have resulted in a 9.5 per cent increase in our Forward.Rewards membership in the last year alone. This loyalty programme, aimed at SMEs, supports our drive to reach a broader audience. Coupled with enhancements to the customer sign-up process, this allows more SME customers to ship to over 350 destinations we serve.”

“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."

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