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IAG Cargo 2018 Q3 financial results

IAG Cargo has today announced its Q3 2018 results, reporting commercial revenues of €290m over the period from July 1 to September 30, 2018, an increase of 8.1 per cent on 2017 at constant exchange.

Overall yield for the quarter was up 9.3 per cent at constant exchange. Sold tonnes were down 0.5 per cent and CTK volumes were down 1.0 per cent whilst capacity grew by 3.9 per cent.

Lynne Embleton, CEO at IAG Cargo, commented:

“This quarter we have continued to see positive revenue growth, which has been driven in part by sustained growth in our Constant Climate and Critical products, as well as healthy regional demand out of Asia Pacific. Our continued growth over the course of 2018 is encouraging as we approach peak season and the year’s end.

“The recently announced service to Pittsburgh will bring the total number of US gateways served by IAG Cargo to 26. From April 2019, this service will be the only direct flight between Pittsburgh and the UK, a reflection of our commitment to expanding our network reach to wherever our customers need it.

“We continue to invest in innovation and the digitization of our business. We recently announced the finalists in our Hangar 51 global innovation accelerator programme. This year is the first year we have had a cargo specific category, and we are collaborating with several highly innovative start ups over the coming months and discovering how they can help us to advance the cargo industry.

“Going into the final months of 2018 our focus remains on investing in our operations and delivering an excellent service for our customers over the busiest period in the air cargo calendar.”

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