IAG Cargo passenger-freighter idea pays off as sales soar 33.1pc
IAG CARGO's strategy of setting up a scheduled cargo network of passenger-freighters while most of its aircraft are grounded has paid off, reports London's Loadstar
IAG CARGO's strategy of setting up a scheduled cargo network of passenger-freighters while most of its aircraft are grounded has paid off, reports London's Loadstar.
The company has announced that revenues grew 33.1 per cent to EUR369 million (US$437.6 million) from April through June, with yields up 224.7 per cent and sold tonnes down 51.2 per cent.
IAG Cargo was quick to adjust to Covid and, as the virus rampaged around the world, set up a network of scheduled cargo and charter flights.
One UK customer said he had been impressed with the network, but noted that it was important for the airline to retain its cargo customers.
'We have reconfigured aircraft to maximise cargo capacity, removing seats and using overhead lockers. These were important capacity solutions, albeit ones that brought additional operational complexity and cost,' said IAG Cargo chief Lynne Embleton.
'We rapidly developed one of the most comprehensive networks of scheduled cargo-only flights available; a network of over 340 scheduled flights a week and tailored to the most important cargo flows,' she said.
United Airlines also saw cargo revenues rise, by 36.3 per cent to $402 million, operating 3,800 cargo-only flights, although cargo ton miles fell 40 to 496.
United and IAG are in direct contrast per cent American Airlines and Delta Cargo. While American was more aggressive in keeping its domestic fleet flying, cargo operating revenues fell 41 per cent to $130 million, with cargo ton miles down 72 per cent. Cargo yields per ton, however, more than doubled to $0.74. Delta cargo revenues fell 42 per cent to $108 million.