IAG Cargo reports 8.8% commercial revenue increase in Q2

IAG Cargo has announced its Q2 results from 1 April to 30 June, 2015, reporting an 8.8% increase in commercial revenue to €259 million versus the same period last year.

"IAG Cargo’s revenue growth comes during a period of network expansion, with a capacity increase of 2.1%, the company said in statement.

Market conditions had been "challenging" in the second quarter, placing pressure on yields which decreased 3% at constant exchange (rate) with volumes also finishing 2.1% down on the prior year.

Commenting on the results, IAG Cargo's CEO, Steve Gunning, said:

“Over the last three years IAG Cargo has been on a relentless drive to restructure our business and implement an operating model that performs well during market fluctuations. On the back of a strong Q1 and a softer Q2 market, IAG Cargo has delivered a set of results that demonstrates the resilience and adaptability of our business.

“Successes over the quarter include a record growth in our Premium Product tonnage; the introduction of a simplified freight rate structure for our customers; opening a new route into Kuala Lumpur and bringing two new Constant Climate stations online. We have also added 47 flights to our EuroConnector service, providing customers with a greater array of options for shipping goods into, around and out of Europe.

“Our focus remains on delivering an outstanding product offering that is complemented by shared capacity partnerships that increase the depth and breadth of our network reach. We believe this approach will put us in the best possible position to meet our customer’s needs and therefore compete successfully.”

Source: Lloyd's Loading List

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