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            october 18, 2019

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IAG Cargo H1 sales off 3.2pc


IAG Cargo has posted a 3.2 per cent year-on -year decline in first half revenue to EUR281 million (US$312.2 million), reports the American Journal of Transportation.
Sold tonnes were down 1.1 per cent, while yield for the quarter was down 2.9 per cent at constant exchange. CTK volumes were also down 0.4 per cent and capacity grew by 2.6 per cent.
"Industry data continues to show a year-on-year decline in the global air freight market," said IAG Cargo CEO at IAG Cargo Lynne Embleton.
"IATA forecasts remaining depressed with indicators including the Global Purchasing Manager Index show a month-by-month contraction in new export orders. As our business is linked to global trade, our reported revenue reflects the difficult market conditions," she said.
"In June, we announced the latest development in our APIs, giving customers the ability to seamlessly add our network to their own booking systems. Our API development has also enabled us to integrate with e-booking platforms from major distribution partners.
"The development of IAGCargo.com now forms a core pillar of our customer offering, with improvements being deployed bi-monthly, greatly enhancing our customer experience. We are now taking 28 per cent of our total global bookings online saving customers significant time in the booking process.

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