Air, Freight News

Strong third quarter for IAG Cargo

[ October 30, 2020   //   ]

IAG Cargo’s commercial revenues were up 14.1% to €302m in the third quarter of 2020 compared with the same period in 2019.   Overall yields for the quarter  were up 113.4% on the same time last year at constant currency, reflecting the extra costs of a flying programme that continues to retain a substantial cargo-only schedule. Sold tonnes were down 42%.
Chief executive Lynne Embleton, commented: “The stark impact of COVID-19 on aviation continued throughout Q3. The overall market was weaker than pre-pandemic levels, but the continued squeeze on available air cargo capacity across the global market was the key dynamic in the quarter as carriers continued to ground aircraft.
The third quarter saw a significant ramp up in the network, with routes and frequencies added across the Atlantic, to Africa, Asia and the Middle East and by the end of the period the carrier was operating more than 3,000 cargo flights per week.