IAG Cargo Q1 gets boost from India, pharma demand

U.K.-based IAG Cargo reported a 10.9 percent increase in commercial revenues over the first quarter of 2018, compared with the same period in 2017.

CEO Lynne Embleton attributed IAG Cargo’s success to a buoyant market across Europe and the Asia-Pacific regions, and India particularly, as well as growing demand for its pharmaceutical transportation program, Constant Climate.

Commercial revenues for the quarter stood at €276 million, while overall yield rose 11.8 percent, year-over-year. However, overall volumes declined by a slight 0.7 percent, while capacity rose by 3.6 percent.

The growth of IAG Cargo’s premium shipment categories helped offset the decline in volumes. In addition to the increase in its Constant Climate offerings, Embleton noted, “Critical, our must-fly non-off-loadable product, has surpassed 4,000 shipments since launch and has recently moved a variety of goods, ranging from orthopedic prosthetics and snowboards, to the world’s most expensive perfume.”

IAG Cargo is also continuing to grow its network, with the addition of a new Madrid-San Francisco route that was launched in April, the London Gatwick-Toronto route launched on May 1, the Heathrow-Nashville route launched today and IAG Cargo’s first-ever route between Dublin and Seattle, which is set to launch on May 18.