Friday, May 24, 2024
IAG Cargo revenue dips as market weakens

IAG Cargo revenue dips as market weakens

Second quarter revenue at IAG Cargo was €281 million, down 3.2% at constant exchange, with volumes remaining static as the air cargo market remains slow.

Sold cargo tonnes were down 1.1% to 172,000 tonnes and cargo tonne kilometres were down 0.4% to 1,410 million.

In the first six months of 2019, cargo revenue dipped by 0.2% to €556 million, with sold cargo tonnes up 0.9% to 346,000 tonnes.

The 0.2% fall in revenue, representing a 3.1% decrease at constant currency rates, reflect weak market conditions in airfreight and global trade.

Lynne Embleton, CEO of IAG Cargo says that the long-term focus is transforming its business and leading investment and digital innovation.

She says: “In June, we announced the latest development in our APIs, giving customers the ability to seamlessly add our network to their own booking systems. Our API development has also enabled us to integrate with e-booking platforms from major distribution partners.

“The development of IAGCargo.com now forms a core pillar of our customer offering, with improvements being deployed bi-monthly, greatly enhancing our customer experience. We are now taking 28% of our total global bookings online saving customers significant time in the booking process.”

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