Ocean Carrier Review
Pacific Northwest Ports
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IAG Cargo announces third quarter 2012 financial results
IAG Cargo, the single business created following the merger of British Airways World Cargo and Iberia Cargo, has announced its third quarter results from July 1 to September 30, 2012.IAG Cargo Group has reported commercial revenue (flown revenue plus fuel surcharges) of ‘298 million in the quarter. This represents an increase of 3.5 per cent against the same period last year.
Volumes of 1,511 million freight tonne kilometres (FTKs) for the quarter represent an increase of 1.1 per cent versus the same period last year. Cargo capacity for the same period was up 3.4 per cent.
Overall yield (commercial revenue per FTK) for the quarter increased by 2.3 per cent versus the same period last year; excluding exchange this yield was down 4.3 per cent.
Steve Gunning, managing director at IAG Cargo comments: ‘The economic climate remains challenging but we continue to structure our business to cope with the volatile market conditions. Against our competitors, our performance has been positive. Our focus remains on maximising our network connections to best serve our customers, continuing to develop our range of accessible distribution channels and delivering high-quality premium products across our extended network.’
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