During the second quarter, IAG Cargo’s revenue fell, year-over-year, from 271 million euros ($363.98 million) to 238 million euros.
IAG experienced a 5.1-percent decrease in cargo volumes, year-over-year, on a 5.6-percent decline in capacity. Cargo yield dropped by 7.4 percent. Officials noted that these declines were due to a “significantly reduced freighter program” that commenced after a leasing contract ran out in April.
Steve Gunning, IAG Cargo’s chief executive officer, said there have been strong cargo flows between the Asia Pacific and North America, and that load factors during the quarter have been “good.” He noted that new routes to Chengdu, China, and Austin, Texas, have “performed well with impressive load factors.”
He continued, “With the customer-focused changes that we continue to make to the business and a firm handle on costs, we are making good progress towards optimizing IAG Cargo’s bottom line contribution and we are looking ahead to the remainder of the year with optimism.”
IAG Cargo has revenue decline in Q2
