IAG revenue grows 10pc

IAG Cargo has experienced a 10.2 per cent increase in its revenue to €259 million over the period from July 1 to September 30 compared to last year.

Volumes also increased by 7.7 per cent, while capacity increased by 3.8 per cent. Overall yield for the business for the quarter increased by 2.4 per cent at constant exchange.

“This quarter we have continued to see strong growth as demand grew faster than capacity,” said chief financial officer Lewis Girdwood. “The upswing in the market over the course of 2017 is encouraging as we approach the peak and year end.”

He said that these results have been largely driven by demand from Asia-Pacific, which has continued to deliver strong volumes following a positive second quarter.

“The ocean congestion between China and Europe continues to be a driver for the region’s success and we have seen high demand for machinery, auto-parts and industrial goods on this route,” said Girdwood. “Our time sensitive products Prioritise and Critical have supported customer demand in the region, ensuring guaranteed delivery of parts.”