IAG Cargo posted revenues of 1.02 billion euros for 2016, a 6.6 percent drop from 2015.
International Airlines Group subsidiary IAG Cargo, which includes the cargo operations of British Airways, Aer Lingus and Iberia, recorded revenues of 1.02 billion euros for 2016, a 6.6 percent year-over-year drop, the company reported Friday.
During the year, IAG Cargo transported 849,000 metric tons of cargo, down 2.9 percent from 2015.
“While there was a robust start to 2016, the second and third quarter suffered from diminishing demand, leading to significant yield pressures,” IAG Cargo CEO Drew Crawley said. “The final peak months of the year brought some improvement, driven by stronger than expected customer sales in December and a high demand for last minute e-commerce products.”
Looking ahead to 2017, Crawley said IAG Cargo will continue to invest in its infrastructure and technology. “Throughout 2017, we will introduce a number of new innovations to help drive forward the digitalization of cargo and improve our customers’ shipping experience,” he said.
IAG Cargo’s revenues fall in 2016
