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IAG Cargo's quarterly revenue decline hit by challenging market conditions
IAG Cargo's headline commercial revenue fell by 1.5 per cent in the first quarter compared to the same period a year earlier. The decline was attributed to challenging market conditions.
After adjusting the prior year's figures to reflect a directly comparable operation, revenue decreased 8.6 per cent.
On a like for like basis, cargo volumes were down 1.8 per cent, while yields fell by 6.9 per cent.
Cargo chief executive Drew Crawley described the outcome as "respectable results in the face of a challenging market. The trading conditions experienced towards the end of last year have continued into 2016".
The company's focus has switched to premium products, which Mr Crawley said was continuing to pay off, with double digit growth in Constant Climate and Prioritise tonnage.
Network highlights over the coming months would include routes from Madrid to Shanghai and Johannesburg and expansion in South America to Lima, San Juan and San Jose would add new flows of perishable and pharmaceuticals. A new service to San Jose, California would boost hi-tech flows.
During the second quarter, the airline will also continue to integrate Aer Lingus Cargo's operations bringing new routes such as Dublin to Hartford, Newark and Los Angeles.
After adjusting the prior year's figures to reflect a directly comparable operation, revenue decreased 8.6 per cent.
On a like for like basis, cargo volumes were down 1.8 per cent, while yields fell by 6.9 per cent.
Cargo chief executive Drew Crawley described the outcome as "respectable results in the face of a challenging market. The trading conditions experienced towards the end of last year have continued into 2016".
The company's focus has switched to premium products, which Mr Crawley said was continuing to pay off, with double digit growth in Constant Climate and Prioritise tonnage.
Network highlights over the coming months would include routes from Madrid to Shanghai and Johannesburg and expansion in South America to Lima, San Juan and San Jose would add new flows of perishable and pharmaceuticals. A new service to San Jose, California would boost hi-tech flows.
During the second quarter, the airline will also continue to integrate Aer Lingus Cargo's operations bringing new routes such as Dublin to Hartford, Newark and Los Angeles.
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