IAG sees cargo traffic decline but revenues increase in Q3
IAG registered an improvement in its cargo revenues in the third quarter of the year despite a decline in traffic but the level of increase lagged behind some of its rivals and its cargo…
The cargo division saw its third-quarter revenues increase by 3.9% year on year to €294m, while cargo traffic for the period was down 13.9% year on year to 1.1bn cargo tonne km (CTK). Cargo revenues per CTK increased by 20.7% on last year to 26.70cents.
The carrier group said that its cargo business had been targeting premium traffic and pricing. It added that the strong pricing had more than offset the decline in cargo traffic.
“Cargo capacity continued to be impacted by disruption in the Middle East and the cancellation of third-party long-haul freighter capacity, which reduced volumes, particularly from Asia Pacific.
“The impact was partly offset by operating cost savings, fuel-related price increases, and a continued focus on premium and higher-yielding traffic.
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