IAG CARGO DELIVERS Q3 REVENUES OF €373 MILLION
Q3 results take IAG Cargo’s year-to-date revenue to €1,216m, up 3.6 per cent in comparison to 2021
In Q3 IAG Cargo’s product for perishables, Constant Fresh saw volumes up 114 per cent on Q3 2021
Since the start of the year, transactions from SME customers have increased by 20 per cent on 2021
Today, IAG Cargo, the cargo division of IAG (International Airlines Group) reports its financial results for Q3 2022, with revenues of €373 million for the period from July 1 to September 30, 2022. The Q3 results take IAG Cargo’s year-to-date revenue to €1,216m, up 3.6 per cent in comparison to YTD 2021.
In Q3, the business continued to offer increased services across its network, with capacity between London-Heathrow, Madrid and the US more than doubling in the quarter (compared to Q3 2021). Overall, the business saw capacity increase by 35.9 per cent on Q3 2021, as measured in available tonne kilometres (ATKs). IAG Cargo’s product for perishables, Constant Fresh saw volumes up 114 per cent on Q3 2021. The extra lift out of the US has provided an important lifeline to US growers transporting their goods across the Atlantic, with a notable increase of those goods landing in the Middle East where flights have doubled from IAG Cargo’s London Heathrow hub since Q3 2021.
Celebrating 5 years of its SME loyalty programme FORWARD.REWARDS, IAG Cargo saw YTD transactions from small and medium freight forwarders increase 20 per cent on the same period in 2021. Expanding its reach further, the business signed a new partnership with Neutral Air Partner in June 2022 whilst continuing to also work closely with the WCA World network of freight forwarders.
Notes to editors
IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, Vueling and bmi, IAG Cargo now covers a global network.
In 2021, IAG Cargo had a commercial revenue of €1,673 million. It has a combined workforce of more than 2,250 people. Its parent company, International Airlines Group, is one of the world's largest airline groups with 531 aircraft at 31st December 2021. It is the third largest group in Europe and the sixth largest in the world, based on revenue.
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