Air, Freight News

Tonnage up, revenue down at IAG Cargo

[ August 5, 2024   //   Chris Lewis ]

IAG Cargo’s tonnage in the first half of 2024 was up 7.8% versus the first half of 2023, said the carrier, whose brands include British Airways, Iberia, Aer Linguis and Vueling.

The business reported commercial revenues of €566 million for the period, a decrease of 6.1% while yields for were below those of 2023. 

Chief executive, David Shepherd, said: “We achieved solid results with year-on-year volume growth in a global market characterised by less supply chain constraint than we experienced last year. This positive momentum is a testament to our strategic investments across our business, which are already delivering substantial value, choice and flexibility for our customers.”

During the first half of the year, IAG Cargo expanded its ground transportation in North America and Europe, providing customers with greater flexibility and access to key gateways such as Madrid, Chicago, Los Angeles, and New York.

It also completed a €1.5 million expansion of its temperature-controlled perishables facility in Madrid, part of a €12 million investment in the Spanish hub over the past six years.

Tags: IAG Cargo