The airfreight division of International Airlines Group saw commercial revenues rise 8 percent to 1.08 billion euros (U.S. $2.2 billion) last year thanks to increased volumes and yields, IAG Cargo said in a statement.
IAG Cargo, the airfreight division of International Airlines Group, saw its commercial revenues rise 8 percent to 1.08 billion euros (U.S. $2.2 billion) in 2017, according to a statement from the company.
The airline attributed the strong revenue growth primarily to a 5.6 percent year-over-year increase in volumes and a 2.2 percent increase in yields. IAG Cargo’s airfreight capacity grew 4.8 percent last year.
“The market improved throughout the year, culminating in a very strong fourth quarter,” IAG Cargo CEO Lynne Embleton said of the results. “We handled large volumes across each of our hubs and demand for our premium products was particularly high.
“Our non-off-loadable Critical product saw sustained growth over the year and was the preferred method of shipment for a huge variety of goods ranging from oil and gas equipment to spices and dried fruit in the run up to the festive period,” she said. “Building on the early success of Critical, we launched Constant Climate Critical in July, extending our most urgent, time-sensitive product to the pharmaceutical sector. This has enabled thousands of emergency medical shipments, including vital vaccines and lifesaving medicines, to reach their destination in the swiftest and most secure way.
“As 2018 progresses, our emphasis on digital, technology and investment for growth will be key as we continue to focus on delivering the best possible service for all of our customers,” added Embleton.
IAG Cargo grows volumes, revenues in 2017
