IAG Cargo’s Q3 revenues fall despite higher volumes

International Airlines Group subsidiary IAG Cargo had revenues of 240 million euros for the third quarter of 2016, down 7 percent from the third quarter of 2015.    IAG Cargo had revenues of 240 million euros (U.S. $262.2 million) for the third quarter of 2016, down 7 percent from the third quarter of 2015, the company said Friday.
   However, IAG Cargo’s volumes rose 4.5 percent on a like-for-like basis, while yields decreased 10.5 percent at constant exchange.
   “Our commitment to develop premium products and customer experience was further reinforced last month, when we announced a 55 million euro investment in a new premium facility at London Heathrow,” IAG Cargo CEO Drew Crawley said. “On Oct. 3, we also launched a new emergency solutions product, Critical, which has already been well received by customers across our network.”
   In addition, IAG Cargo launched a new route from its hub in London Heathrow to Tehran Sept. 1.
   The company also recently announced it is launching a new route between London Heathrow and New Orleans. Commencing March 26, 2017, the new route will offer flights four times a week to and from New Orleans.
   IAG Cargo is a subsidiary of International Airlines Group and offers airfreight service to a network of over 350 destinations worldwide.