IAG Cargo reports slight drop in revenue

CEO Steve Gunning said IAG will continue to explore asset light transportation solutions in 2015.    IAG Cargo reported commercial revenues of 246 million euros (U.S. $275.97 million) for the first quarter of 2015, a 1.6 percent drop from the first quarter of 2014.
   The airfreight carrier said in a statement the decrease in revenues was primarily attributable to an 8 percent reduction in capacity. “The strong US Dollar continues to stimulate inbound US trade and is driving positive exchange benefits,” IAG added.
   CEO Steve Gunning said of the results, “It’s been a strong start to the year: load factors and yields are up. Our decision to address capacity discipline head-on has proven to be the right one. Underpinning our commitment to sensible capacity management is a focus on utilizing our substantial bellyhold network while providing freighter services on key routes like Hong Kong to London.
   “Throughout 2015 we will continue to explore ways to expand our network with asset light solutions,” he added.
   “Services like EuroConnector, meanwhile, have helped utilize our substantial short-haul fleet, while our Partner Plus program is allowing us to increase our network reach without incurring large capital costs. The breadth of our network offering has enabled us to participate in the important Asia-US flows and provided a significant boost to our business last quarter,” said Gunning.