IAG Cargo 2017 third quarter revenue increases 10.2pc to US$300 million

IAG CARGO's third quarter revenue increased 10.2 per cent year on year to EUR259 million (US$300 million) as freight volumes rose 7.7 per cent and capacity grew by 3.8 per cent.

Said IAG Cargo chief financial officer Lewis Girdwood: "This quarter we have continued to see strong growth as demand grew faster than capacity." 



Mr Girdwood also said there was an "upswing in the market over the course of 2017" and that was encouraging as the company headed into its annual peak season.



"These results have been largely driven by demand from Asia-Pacific which has continued to deliver strong volumes following a positive second quarter," he said. 



"The ocean congestion between China and Europe continues to be a driver for the region's success and we have seen high demand for machinery, auto-parts and industrial goods on this route," Mr Girdwood said.