Air, Business, Freight News, Logistics

IAG static in tough six months

[ August 3, 2012   //   ]

IAG Cargo, the business created by the merger of British Airways World Cargo and Iberia Cargo, reported commercial revenue (flown revenue plus fuel surcharges) down 0.3% at €590 million in the first half of the year to 30 June 30.

Freight tonne kilometres decreased by 1.8% while cargo capacity for the same period was up 3.7%. Overall yield for the first half increased by 1.5% but excluding exchange rate factors this was down 1.8%.

Managing director Steve Gunning described it as a “solid overall performance” considering the state of the economy but added: “Due to continued questions over the pace and consistency of economic recovery we remain cautious about future performance.