Air, Business, Freight News

IAG down in weak market

[ August 2, 2013   //   ]

IAG Cargo – the joint carrier formed by British Airways and Iberia – said its cargo revenue was down 8.3% in the first half of 2013, to €541 million. Freight carried was down 8.4%, to 2,756 million cargo tonne kilometres while cargo capacity was also trimmed, but by only 2.7%.

Overall yield (commercial revenue per CTK) for the first six months of the year remained flat versus the same period last year, although excluding the effect of exchange brought a 0.9% increase.

Managing director at IAG Cargo, Steve Gunning, said the results reflected the overall weak market conditions, particularly across the North Atlantic, and Iberia’s capacity reduction which affected volumes in the first half of the year. “Given these operating circumstances, we are pleased with our yield performance,” he concluded.