The cargo division of IAG (International Airlines Group) posted Q2 revenue of €411m and first half revenue of €843m, up 9.6% on the first half of 2021.
Tonnage was up 4.6% and overall yield was down 2% at constant currency compared to 2021.
Transatlantic services are increasing with a new service between London Heathrow and Portland, Madrid has been connected with Dallas and Washington, and services to Pittsburgh have resumed.
Since the start of the year, IAG Cargo has been helping to relieve the infant formula shortage, transporting over 3,000 tonnes of milk powder to the US.
David Shepherd, Managing Director of IAG Cargo, says, “While there are undoubtedly challenges facing the entire aviation industry, our results today show that our investments in route expansion and digitalisation are paying off. The return of global passenger travel is facilitating additional cargo capacity, our pre-pandemic schedules are returning and we are launching new routes for customers.”
IAG Cargo has made investments in sustainability and digital platforms.
In June, IAG Cargo opened capacity to a wider audience of SME forwarders with the adoption of the Freightos WebCargo Pay solution.
It expanded its Sustainable Aviation Fuel (SAF) partnerships with Kuehne + Nagel and Bollore Logistics, and over the last year, IAG Cargo purchased more than 10 million litres of SAF, cutting CO2 emissions by approximately 24,000 tonnes on a net lifecycle basis.