• Demand for air cargo up 8.2 percent y/y in October

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  • Another record breaking year for Budapest Airport as cargo volume exceeds 100,000 tonnes

    Hungarian gateway Budapest Airport expects to break annual record of cargo volume this year with more than 100,000 tonnes already handled between January and November.

  • LATAM Airlines to launch its longest non-stop flight ever between Santiago and Melbourne, Australia

    Latin America based carrier LATAM Airlines will operate a new, non-stop service between Santiago and Melbourne, Australia, from October 5, 2017.

  • India gives a strong start to IAG’s performance in the peak season

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  • IAG Cargo launches new Paris to New York route through OpenSkies

    IAG Cargo has launched the start of a new Paris Orly to Newark New Jersey route, its first ever direct cargo route between France and the USA.
Showing posts with label 10th anniversary. Show all posts
Showing posts with label 10th anniversary. Show all posts

Friday, July 30, 2021

IAG announces strong Q2 revenue on its 10th anniversary

  6:40:00 PM   , ,   No comments   Edit

 IAG announces strong Q2 revenue on its 10th anniversary



IAG Cargo, the cargo division of International Airlines Group (IAG), reported a strong Q2 revenue amid a confident outlook for the cargo business and in-line with an improved air-cargo market.

IAG Cargo achieved revenues of €419 million from April 1 to June 30 2021; an increase of 17.3 percent at constant currency versus the same period last year. Overall yield for the quarter was down 32.1 per cent at constant currency versus last year reflecting the increase in market capacity, while sold tonnes more than offset the decline and were up 56.2 per cent. The Q2 results take IAG Cargo’s half year revenue to €769m, up 25 per cent on the first half of 2020.

Ecommerce continued to be a major driver of activity in the quarter, with the business moving a diverse range of products from fashion and electronics to sporting equipment. The quarter also saw a very significant increase in the movement of Italian wine into the USA – 95,000 bottles.

In Q2 IAG Cargo, together with the passenger business launched additional joint cargo-passenger flights as some governments eased restrictions. Activity from Spain to Latin America increased as a result, with additional frequencies to Sao Paolo and Mexico City and a resumption of services into Guayaquil and San Juan.

During the quarter IAG Cargo operated an extensive charter programme on top of its cargo-only schedule. This included flights operated for charity with British Airways, providing medical equipment and relief into India as the country experienced a rapid rise in COVID-19 cases.

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