IAG Cargo grows Q2 revenues despite lower volumes

The airfreight carrier said it increased revenues 8.8 percent during a period of network expansion for the company.    IAG Cargo’s commercial revenues increased 8.8 percent year-over-year to 259 million euros (U.S. $287.6 million) in the second quarter of 2015, according a summary of the airfreight carrier’s most recent financial statements. The results came during a time of network expansion for the company, IAG said.
   IAG increased capacity 2.1 percent year-over-year in the second quarter, but cargo volumes at the airline fell 2.1 percent. Yields decreased 3 percent at constant exchange from the prior year’s quarter, a result of what IAG characterized as “challenging market conditions.”
   “Successes over the quarter include a record growth in our Premium Product tonnage; the introduction of a simplified freight rate structure for our customers; opening a new route into Kuala Lumpur and bringing two new Constant Climate stations online,” IAG Cargo CEO Steve Gunning said pf the results. “We have also added 47 flights to our EuroConnector service, providing customers with a greater array of options for shipping goods into, around and out of Europe.”