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Indiaexportnews.com

IAG Cargo second quarter revenues increase 0.4pc

  07.08.2018    

IAG Cargo, without revealing profit, posted a 0.4 per cent second quarter year-on-year revenue increase to EUR281 million (US$325 million), according to Shipping Gazette.
Year-to-date revenues were up 3.5 per cent, to EUR557 million on volumes that increased 0.5 per cent during the same period.
IAG said that employee and fuel costs increased during the second quarter, but also noted reductions in engineering and other aircraft costs, which decreased 11.3 per cent.
IAG Cargo said its Asia Pacific, Europe and North America channels are performed well. Its continues construction of sites in London and Madrid, which include "Premier," a pharma and express shipments London and the "Constant Climate" facility for pharmaceuticals in Madrid.
"Construction is underway, with steelwork almost complete and the installation of a new material handling system now in progress," said CEO Lynne Embleton of the London facility.
IAG Group's overall Q2 operating profit before exceptional items rose 17.4 per cent to EUR1.1 billion.
Said Ms Embleton: "There continues to be huge scope for digital to transform the air freight industry and we know that to continue to innovate, we must look both inside and outside the industry."
The company stated that at current fuel prices and exchange rates, IAG expects its operating profit to increase in 2018.



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