IAG Cargo, the cargo division of IAG (International Airlines Group), reported revenue of €411 million ($419 million) for the second quarter ended June 30, 2022.
“The Q2 results take IAG Cargo’s half-year revenue to €843 million ($859.9 million), up 9.6 per cent compared to the first half of 2021,” says an official release.
IAG Cargo’s Q22022 tonnage was up 4.6 percent while overall yield saw a reduction of 2 per cent at constant currency versus the same period in 2021 despite the return of passenger-led capacity, the statement added.
“Route expansion included opening a new service to Portland from London-Heathrow, and new services into Dallas and Washington from its Madrid hub while the business also re-started services into Pittsburgh. Globally, IAG Cargo continues to expand its network, and has added eight destinations since 2019 from its Madrid hub.
“Additionally, since the start of the year, lanes into North America have also supported the transportation of over 3,000 tonnes of milk powder as the U.S. grapples with shortage of infant formula.”
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