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Cargo Newswire

IAG Cargo Q3 revenue at €373 million

October 28, 2023
in Airlines
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IAG Cargo’s product for perishables, Constant Fresh, saw volumes increase 114% in Q32023 compared to Q32021

  • Q3 results take IAG Cargo’s year-to-date revenue to €1,216m, up 3.6 per cent in comparison to 2021
  • In Q3 IAG Cargo’s product for perishables, Constant Fresh saw volumes up 114 per cent on Q3 2021
  • Since the start of the year, transactions from SME customers have increased by 20 per cent on 2021

IAG Cargo, the cargo division of IAG (International Airlines Group) has reported its financial results for Q3 2022, with revenues of €373 million for the period from July 1 to September 30, 2022. The Q3 results take IAG Cargo’s year-to-date revenue to €1,216m, up 3.6 percent in comparison to YTD 2021.

In Q3, the business continued to offer increased services across its network, with capacity between London-Heathrow, Madrid and the US more than doubling in the quarter (compared to Q3 2021). Overall, the business saw capacity increase by 35.9 per cent on Q3 2021, as measured in available tonne kilometres (ATKs). IAG Cargo’s product for perishables, Constant Fresh saw volumes up 114 per cent on Q3 2021. The extra lift out of the US has provided an important lifeline to US growers transporting their goods across the Atlantic, with a notable increase of those goods landing in the Middle East where flights have doubled from IAG Cargo’s London Heathrow hub since Q3 2021.

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Celebrating 5 years of its SME loyalty programme FORWARD.REWARDS, IAG Cargo saw YTD transactions from small and medium freight forwarders increase 20 percent on the same period in 2021. Expanding its reach further, the business signed a new partnership with Neutral Air Partner in June 2022 whilst continuing to work closely with the WCA World network of freight forwarders.

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Devender Grover

Devender Grover

Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.

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