IAG Cargo, the cargo division of International Airlines Group (IAG), has posted a 6.7 per cent year-on-year increase in revenue in 2024 to EUR1.23 billion (US$1.33 billion), reports Singapore's Payload Asia.
'Air cargo achieved strong growth in 2024 with demand surpassing the record volumes of 2021, and our performance is reflective of this,' said iag Cargo CEO David Shepherd.
'External factors are continuing to have an impact on air cargo logistics and consumer behaviour. The industry experienced a two-speed market during the year. In the East, supply chain constraints and geopolitical factors drove yield growth but limited capacity, while conversely, capacity outpaced demand, putting pressure on yields.
'This only emphasises the need for greater efficiency, agility and resilience within the sector, and that is where our efforts and investments were directed last year,' Mr Shepherd said.
Driving innovation and efficiencyIn 2024, the business introduced a market-based pricing system to better align offerings with real-time market dynamics, said the company
A new revenue management system was also implemented, enhancing forecasting and optimising planning delivering a better performance for customers. Additionally, capacity for temperature-controlled cargo at its Madrid perishable facility expanded by 45 per cent, while a new operations control centre at its London Heathrow hub opened enhancing operational precision.
Said Mr Shepherd: 'The digital transformation of our systems is ongoing, and it is great to see the impact this is already having not only on efficiencies and processes across the business but also for our customers. With digitisation comes data, and moving forward that will be invaluable for forecasting enabling us to maximise flows and enhance flexibility and efficiency for customers.'
SeaNews Turkey
'Air cargo achieved strong growth in 2024 with demand surpassing the record volumes of 2021, and our performance is reflective of this,' said iag Cargo CEO David Shepherd.
'External factors are continuing to have an impact on air cargo logistics and consumer behaviour. The industry experienced a two-speed market during the year. In the East, supply chain constraints and geopolitical factors drove yield growth but limited capacity, while conversely, capacity outpaced demand, putting pressure on yields.
'This only emphasises the need for greater efficiency, agility and resilience within the sector, and that is where our efforts and investments were directed last year,' Mr Shepherd said.
Driving innovation and efficiencyIn 2024, the business introduced a market-based pricing system to better align offerings with real-time market dynamics, said the company
A new revenue management system was also implemented, enhancing forecasting and optimising planning delivering a better performance for customers. Additionally, capacity for temperature-controlled cargo at its Madrid perishable facility expanded by 45 per cent, while a new operations control centre at its London Heathrow hub opened enhancing operational precision.
Said Mr Shepherd: 'The digital transformation of our systems is ongoing, and it is great to see the impact this is already having not only on efficiencies and processes across the business but also for our customers. With digitisation comes data, and moving forward that will be invaluable for forecasting enabling us to maximise flows and enhance flexibility and efficiency for customers.'
SeaNews Turkey
