IAG Cargo blames global slowdown for 9pc quarterly revenue decline
LONDON's IAG Cargo has posted a nine per cent year-on-year third quarter revenue decline to EUR269 million (US$300
LONDON's IAG Cargo has posted a nine per cent year-on-year third quarter revenue decline to EUR269 million (US$300.4 million), blaming it on the general slowing of global trade.
Sold tonnes were down 5.7 per cent, while yield for the quarter was down 4.2 per cent at constant currency. CTK volumes were also down 4.9 per cent and capacity was down by 0.1 per cent.
'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,' said IAG Cargo CEO Lynne Embleton.
'We have continued to invest in our operation developing new customer solutions. Our partnership with Cargo Signal provides comprehensive monitoring and tracking through mobile and web applications,' said Ms Embleton.
'Moving into the busiest period in the air cargo calendar we remain focused on delivering for our customers and investing in the future of our business,' she said.