IAG Cargo has today announced its Q2 2016 results, reporting commercial revenue of €241m over the period from April 1 to June 30, 2016, a decrease of 12.0 [1] per cent compared to 2015. Adjusting the prior year's figures to reflect a directly comparable operation, commercial revenue decreased 12.8 [1] per cent versus last year at constant exchange. Challenging market conditions continue, on a like for like basis IAG Cargo’s volumes were flat, while yields decreased 13.4 [1]  per cent at constant exchange. Drew Crawley, CEO at IAG Cargo, commented: “Trading conditions have become more competitive in 2016. Flat demand for consolidated general cargo and excessive freighter capacity in the industry is causing supply to continually outstrip demand. These challenges are not solely restricted to air freight, with increasing competition and capacity coming from road, rail and sea freight, exerting significant price pressures. These challenges are not new and despite these conditions, we have grown our revenue share. “We continue to concentrate on the growth of our premium products, strong cost control and precision management of our capacity and yields. Despite the weak demand for general cargo, our premium products are consistently seeing strong tonnage growth and we are further investing in our premium portfolio. “Our customers continue to value our extensive network, which was recently augmented with the addition of Aer Lingus. With our continued focus on smart partnerships and interline agreements, such as those with Finnair and Qatar, we are in the best possible position to compete effectively and offer our customers worldwide network reach. “We have successfully launched several new South American routes this year, which are proving to be strong cargo destinations. These routes have been well received by our customers, with volumes being driven from pharmaceutical and perishable sectors in particular. Our new Madrid to Shanghai service commenced last month and we will also be adding several new routes to our network, such as, London to Santiago, as well as Madrid to both Tokyo and Johannesburg. “The IAG Cargo platform, alongside our partnerships and premium focus, place us in a strong position to compete effectively in the current market.”   #ends# Notes to editors               IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, bmi and Vueling, IAG Cargo now covers a network of over 350 destinations. It has a combined workforce of more than 2,500 people covering a global network of over 350 destinations. Its parent company, International Airlines Group, is one of the world's largest airline groups with 541 aircraft. It is the third largest group in Europe and the sixth largest in the world, based on revenue. In 2016 the Group reviewed and amended the reporting of individual line items in the consolidated Income statement to better reflect the nature of underlying transactions and improve comparability between reporting periods. As a result, for the year to December 31, 2015, revenue previously reported as Other revenue has been reclassified to Passenger revenue and Cargo revenue. Expenditure in respect of certain subcontracted services, previously allocated to Property, IT and other costs, has been reclassified to Handling, catering and other operating costs. These reclassifications have not affected reported total revenue, expenditure or operating profit for 2015.