Turnover down 9 per cent at IAG Cargo

Weakened global air freight volumes saw turnover fall 9 per cent year-on-year to €269 million (£231 million) in the third-quarter at IAG Cargo.

However Lynne Embleton, chief executive at IAG Cargo, said: “Despite the general weakness in the market, our network breadth has allowed us to take advantage of relatively robust demand for our fresh and premium products.”

Sold tonnes were down 5.7 per cent for the three months-ending 30 September, while yield for the quarter was down 4.2 per cent (at constant currency). Cargo tonne km volumes were also down 4.9 per cent and capacity was down by 0.1 per cent.

Embleton said that IAG had continued to invest in its operations during the quarter, point to its partnership with Cargo Signal – which provides premium product customers with monitoring and tracking service for shipments through mobile and web applications.

“The new service offers unrivalled end-to-end cargo monitoring including location, live light and temperature data and humidity readings,” she said.

By Christopher Walton