Air, Freight News

IAG yields surge during Covid crisis

[ August 3, 2020   //   ]

IAG Cargo reported commercial revenues up 33.1% to €369m in the second quarter of 2020 compared with 2029 (1 April to 30 June) with overall yields for the quarter up by 224.7%. It said the surge reflected the extra costs of cargo-only flying and dedicated charters during the Covid crisis. Sold tonnes were down 51.2%.

Chief executive Lynne Embleton commented: “We rapidly developed one of the most comprehensive networks of scheduled cargo-only flights available; a network of over 340 scheduled flights per week…We have reconfigured aircraft to maximise cargo capacity, removing seats and using overhead lockers. These were important capacity solutions, albeit ones that brought additional operational complexity and cost.”

She added: “The pandemic continues to greatly impact the air cargo industry and businesses at large. For aviation, this is most clearly evident in the sustained restrictions on passenger movements, and, for cargo specifically, on the impact on the global economy.”