Monday, May 20, 2024
IAG Cargo delivers Q3 revenues of €373 million

IAG Cargo delivers Q3 revenues of €373 million

IAG Cargo, the cargo division of IAG (International Airlines Group), has reported 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).

Read more: IAG Cargo trials new biodegradable film

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.

Read more: IAG Cargo boosts services to Latin America with the restart of flights between Barcelona and Chile

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 WCAworld network of freight forwarders.

Picture of Edward Hardy

Edward Hardy

Having become a journalist after university, Edward Hardy has been a reporter and editor at some of the world's leading publications and news sites. In 2022, he became Air Cargo Week's Editor. Got news to share? Contact me on Edward.Hardy@AirCargoWeek.com

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