IAG CARGO Q3 2020 Financial Results

posted on 30th October 2020 by Eddie Saunders
IAG CARGO Q3 2020 Financial Results

IAG Cargo today announced its Q3 2020 results, reporting commercial revenues of €302m  over the period from July 1 to September 30, 2020, an increase of  14.1  per cent on the same period in 2019 at constant currency.    

Overall yields for the quarter  were up 113.4 per cent 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 per cent.   

Lynne Embleton, CEO at IAG Cargo, 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.