Tonnage slides marginally at IAG Cargo
IAG Cargo’s traffic stalled slightly in July, with tonnage declining 1 percent, year-over-year, on a 4.1 percent, year-over-year, capacity surge. These figures are in line with the merged carrier’s statistics for the first half of 2012, which showed freight volumes dropping 1.8 percent, year-over-year, despite IAG Cargo offering 3.7 percent more capacity than in the first six months of 2011.
The parent company to British Airways World Cargo and Iberia Cargo also saw sales slide marginally during the first half of 2012, with commercial revenue falling 0.3 percent, year-over-year, to €590 million. Even so, IAG Cargo’s overall yield swelled 1.5 percent, year-over-year, during the first six months of 2012, according to a press release.
Steve Gunning, managing director at IAG Cargo, said these numbers are impressive, considering the economic woes permeating markets around the globe. “However, due to continued questions over the pace and consistency of economic recovery, we remain cautious about future performance,” he said in a statement.
British Airways World Cargo’s impressive performance in July gave IAG Cargo executives reason for optimism, however. The carrier saw tonnage spike 3.2 percent, year-over-year, in July; to date, BA World Cargo’s volumes are 1.4 percent higher than those seen in the first seven months of 2011.
Unfortunately, such growth didn’t extend to Iberia Cargo. Although Iberia comprises a smaller segment of IAG Cargo’s business, the carrier’s freight volumes plunged 16.4 percent, year-over-year, in July — a decrease even more marked than the 12.7 percent, year-over-year, decline Iberia Cargo posted from January to July.
Still, Iberia Cargo’s decline didn’t impair IAG Cargo’s business too greatly — the merged carrier saw freight revenues increase 3.7 percent, year-over-year, in July.