English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

IAG Cago reports revenue decline

PRESS RELEASE

October 31, 2014: IAG Cargo today announces its Q3 results from July 1 to October 31, 2014, reporting commercial revenue (flown revenue plus fuel surcharges) of €236m versus €256m for the same period last year. On a like for like basis, adjusting the prior year's figures to reflect a directly comparable freighter operation[1], commercial revenue increased 7.6 per cent versus last year.

Volumes of 1,331 million cargo tonne kilometres (CTKs) on a like for like basis1 for the quarter represent an increase of 12.0 per cent compared to Q3 2013, while capacity increased by 4.1 per cent. Overall yield (commercial revenue per CTK) for the quarter was down 3.0 per cent at constant exchange rates.

Steve Gunning, CEO at IAG Cargo, commented: "This is a positive third quarter for the business and we've seen good load factor improvements across markets, despite an increase in capacity. The strong performance of our premium products has offset continued underlying price pressure, particularly in the North American market, with Constant Climate, our market leading product for temperature sensitive freight, delivering impressive volumes. While we have seen a decrease in yield, this is primarily due to flying increased sector lengths. More generally, while trading is good, there are still fundamental issues with the market in terms of excess capacity."

1.Following the cessation of the long haul freighter leasing contract with GSS on April 30, 2014, IAG Cargo ran a significantly reduced freighter programme, which is reflected in the following figures: Volumes of 1,331m cargo tonne kilometres (CTKs) for the quarter decreased by 4.5 per cent compared to Q3 2013, while capacity decreased by 6.5 per cent. Overall yield (commercial revenue per CTK) for this quarter was down 3.4 per cent at constant exchange.

More News

Written on 27/06/2017, 21:12
three-in-a-row-from-john-deereNEU-ISENBURG, Germany: June 27, 2017. time:matters, the Lufthansa Cargo urgent delivery subsidiary, has won its third consecutive award from John Deere...
Written on 26/06/2017, 14:42
freightweek-news-update-week-26MIAMI: June 27, 2017. Avianca Brasil has begun a daily A330 service Miami from São Paulo - its first passenger route to the U.S. and only its second...
Written on 24/06/2017, 17:49
delta-and-korean-expand-partnershipATLANTA/SEOUL: June 23, 2017: Delta Air Lines and Korean Air are to create a trans-Pacific joint venture for passenger and cargo services. Subject to...
Written on 23/06/2017, 17:12
airlines-show-they-careSINGAPORE: June 22, 2017. Lufthansa Cargo, Swiss WorldCargo, United Cargo and Emirates SkyCargo have won DHL's 'Carrier Award for Reliability and...
Written on 23/06/2017, 15:27
a-good-week-for-qatar-airwaysDOHA: June 23, 2017. Notwithstanding a list of political demands on Qatar from some of its neighbors today, Qatar Airlines CEO Akbar Al Baker appears to...
Written on 22/06/2017, 21:24
project-cargo-gets-new-liftLE BOURGET: June 22, 2017. Lockheed Martin launched its latest commercial variant of the ubiquitous Super Hercules transport – the LM-100J – at the Paris...
Written on 20/06/2017, 21:31
us-500-million-for-hybrid-airshipsPARIS, June 20, 2017. Hybrid Air Freighters (HAF) has signed a Letter of Intent to purchase up to 12 Lockheed Martin Hybrid Airships for US$500 million...
Written on 20/06/2017, 19:03
ethiopian-adds-more-b777-freightersLE BOURGET, France: June 20, 2017. Ethiopian Airlines is adding to its fleet of six B777 freighters with the purchase of two more with a list price of...
Written on 19/06/2017, 13:44
freightweek-news-update-week-25BUCHAREST: June 22, 2017. Albalact – Romania's largest dairy company – has renewed its contract with Tibbett Logistics to provide delivery of dairy...
Written on 13/06/2017, 22:19
emirates-sky-cargo-begins-luxembourg-serviceDUBAI/ LUXEMBOURG: June 13, 2017. Emirates SkyCargo began its first weekly B777 freighter service to Luxembourg this week as part of its strategic...
Written on 13/06/2017, 21:31
cma-cgm-to-buy-maersk-s-mercosul-subsidiaryCOPENHAGEN/MARSEILLE: June 13, 2017. A.P. Møller – Mærsk has confirmed the sale of its Mercosul Line subsidiary to CMA CGM to avoid market dominance...
Written on 12/06/2017, 13:37
freightweek-news-update-week-24PORT ELIZABETH, NJ: June 15, 2017. The Ocean Alliance has begun its first weekly U.S. East Coast Loop 3 service with a call by the 8,700 TEU capacity CMA...
Written on 09/06/2017, 21:41
antonov-makes-last-minute-andean-liftMENDOZA, Argentina: June 07, 2017. Antonov used an AN124-100 in late May to move mining equipment weighing a total of 24 tonnes from Santiago, Chile to...
Written on 08/06/2017, 22:41
turkish-cargo-gets-the-word-out-and-the-business-inISTANBUL: June 08, 2017. Turkish Airlines has reported a gross profit of US$117 million on revenue of US$1.93 billion for Q1 2017 as the contribution...
Written on 08/06/2017, 20:37
customs-and-air-cargo-belgium-to-share-visionBRUSSELS: June 07, 2017. Belgian Customs and sector representative Air Cargo Belgium have agreed to "execute a common vision concerning the optimization...
Written on 08/06/2017, 19:40
schiphol-pharma-gateway-adds-abcAMSTERDAM: June 07, 2017. AirBridgeCargo Airlines (ABC) has become the second airline and 14th member of the Pharma Gateway Amsterdam (PGA) initiative...
Written on 07/06/2017, 15:47
ups-suspends-pick-ups-for-qatar-as-embargo-continuesATLANTA: June 06, 2017 UPS has informed its customers that direct import and export to and from Qatar is not be possible, following the decision by...
Written on 06/06/2017, 19:00
maskargo-boost-to-malaysia-ecommerceKULA LUMPUR: June 06, 2017. MASkargo has begun a five times weekly A330 freighter service between Kuala Lumpur International Airport (KIA), Kota Kinabalu...
Written on 06/06/2017, 15:51
delta-and-aeromexico-sign-transborder-agreementATLANTA/MEXICO CITY: June 06, 2017. Delta Cargo and Aeromexico Cargo have signed a sales, operations and marketing agreement to develop the transborder...
Written on 05/06/2017, 14:21
freightweek-news-june-05-09MARSEILLE: June 09, 2017. CMA CGM is to introduce a new box service linking the East Mediterranean, Djibouti, Gulf, Pakistan and India. Read...

- powered by Quickchilli.com -