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IAG Cargo announces 1st Quarter 2013 financial results
IAG Cargo announced its first quarter results from January 1 to March 31, 2013, reporting commercial revenue (flown revenue plus fuel surcharges) of ‘270 million for the year to date, a decrease of 7.2 per cent against the same period in 2012.
Volumes of 1,364 million cargo tonne kilometres (CTKs) represent a decrease of 8.0 per cent versus the same period last year. Cargo capacity was down 1.7 per cent.
Overall yield (commercial revenue per CTK) for the quarter increased by 0.8 per cent versus the same period last year, excluding the effect of exchange brings this to a 1.2 per cent increase.
Steve Gunning, managing director at IAG Cargo comments: ‘During the first quarter we have seen weak market conditions, particularly on the North American trade lanes. Industrial action at Iberia during February and March also affected the load factors.
‘Two years on from the creation of IAG Cargo, we are focused on delivering an outstanding global cargo network for our customers coupled with a single set of products, accessible via a range of easy-to-use booking channels.’
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