LONDON/MADRID: August 02, 2019. IAG Cargo has reported Q2 2019 results of €281 million, down 3.2 percent from the same period last year at constant exchange rates. Tonnage sold dropped 1.1 per cent, yield fell 2.9 percent and flown volumes were also down 0.4 per cent as capacity grew by 2.6 percent.
The results reflect industry air cargo data for June from analyst WorldACD as the overall chargeable weight fell 8.9 percent year-on-year; general cargo volumes dropped 12.5 percent; load factor declined 3.3 percent and yield fell 6.3 percent to US$1.77/€1.57.
IAG Cargo CEO Lynne Embleton commented: “IATA forecasts remaining depressed with indicators including the Global Purchasing Manager Index show a month-by-month contraction in new export orders. As our business is linked to global trade, our reported revenue reflects the difficult market conditions.
“Whilst our influence on short term market performance remains limited, our focus on implementing long term transformation for our business and leading the industry in investment and digital innovation remains unchanged," she continued. "Our API development has enabled us to integrate with e-booking platforms from major distribution partners. We are now taking 28 percent of our total global bookings online saving customers significant time in the booking process.
“Going into the second half of 2019, we remain focused on investing in the future of our business to enhance how we deliver for our customers,” she added.
Commenting on the results of a recent worldwide survey of its freight forwarder customers, IAG Cargo director of Strategy & Revenue Optimisation Enikö Matanov noted: “We are hugely encouraged by the global appetite of freight forwarders to implement real change in the fields of digitalisation and automation. The scope for digitalisation and automation to transform the cargo industry is huge.”
Pictured: Aer Lingus took delivery of its first A321LR in July. The aircraft, one of eight on order, will be used by the IAG Group airline on transatlantic routes.
