Air, Business, Freight News

IAG Cargo 2017 Q3 Financial Results

[ October 31, 2017   //   ]

IAG Cargo has today announced its Q3 2017 results, reporting commercial revenue of €259m over the period from July 1 to Sept. 30, 2017, an increase of 10.2% on 2016 at constant exchange.

Overall yield for the quarter was up 2.4% at constant exchange. Volumes were up 7.7 %, while capacity grew by 3.8%.

Lewis Girdwood, CFO at IAG Cargo, commented:  “This quarter we have continued to see strong growth as demand grew faster than capacity. The upswing in the market over the course of 2017 is encouraging as we approach the peak and year end.

“These results have been largely driven by demand from Asia-Pacific which has continued to deliver strong volumes following a positive second quarter. The ocean congestion between China and Europe continues to be a driver for the region’s success and we have seen high demand for machinery, auto-parts and industrial goods on this route. Our time sensitive products Prioritize and Critical have supported customer demand in the region, ensuring guaranteed delivery of parts.

“Other key markets across our network have performed in line with the uptick in global air freight performance, with exports out of Europe growing in all directions which has complemented our network well.

“Our SME loyalty program, FWD.Rewards, which launched in May this year continues to grow rapidly as customers realize the benefits from points earned through shipping with us.

“As we enter the final months of the year we have ensured that we are well prepared for the peak season so we can continue to deliver for our customers over the busiest time in the air cargo calendar.”