IAG Cargo has today announced its third quarter (Q3) 2018 results – reporting commercial revenues of €290 million over the period from 1 July to 30 September 2018 – an increase of 8.1 per cent on 2017 at constant exchange.
Overall yield for the quarter was up 9.3 per cent at constant exchange. Sold tonnes were down 0.5 per cent and CTK volumes were down one per cent cent whilst capacity grew by 3.9 per cent.
IAG Cargo chief executive officer, said: “This quarter we have continued to see positive revenue growth, which has been driven in part by sustained growth in our Constant Climate and Critical products, as well as healthy regional demand out of Asia Pacific. Our continued growth over the course of 2018 is encouraging as we approach peak season and the year’s end.
“The recently announced service to Pittsburgh will bring the total number of US gateways served by IAG Cargo to 26. From April 2019, this service will be the only direct flight between Pittsburgh and the UK, a reflection of our commitment to expanding our network reach to wherever our customers need it.
“We continue to invest in innovation and the digitization of our business. We recently announced the finalists in our Hangar 51 global innovation accelerator programme. This year is the first year we have had a cargo specific category, and we are collaborating with several highly innovative start ups over the coming months and discovering how they can help us to advance the cargo industry.
“Going into the final months of 2018 our focus remains on investing in our operations and delivering an excellent service for our customers over the busiest period in the air cargo calendar.”
IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, Vueling and bmi, IAG Cargo now covers a global network of over 350 destinations.