IAG Cargo today announces its Q3 results
from July 1 to October 31, 2014, reporting commercial revenue (flown
revenue plus fuel surcharges) of €236m versus €256m for the same period
last year. On a like for like basis, adjusting the prior year’s figures
to reflect a directly comparable freighter operation, commercial revenue
increased 7.6 per cent versus last year.
Volumes of 1,331 million cargo tonne
kilometres (CTKs) on a like for like basis for the quarter represent an
increase of 12.0 per cent compared to Q3 2013, while capacity increased
by 4.1 per cent. Overall yield (commercial revenue per CTK) for the
quarter was down 3.0 per cent at constant exchange rates.
Steve Gunning, CEO at IAG Cargo,
commented: “While we have seen a decrease in yield, this is primarily
due to flying increased sector lengths. More generally, while trading is
good, there are still fundamental issues with the market in terms of
excess capacity.”
Source and image: IAG Cargo
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