IAG Cargo reports marginal rise in Q1 revenue

Parent IAG losses at $322.7 million

481 million CTK British Airways commercial revenue IAG Cargo Group Iberia

IAG (International Airlines Group) Cargo Group has reported commercial revenue (flown revenue plus fuel surcharges) of €291 million ($377 million) in the quarter, up against €290 million ($374 million) in the same period last year.

With volumes of 1,481 million cargo tonne kilometres (CTKs) for the quarter, the cargo arm of IAG saw revenue for the quarter up 0.3 per cent with yield up 2.6 per cent and volume down 2.2 per cent. Overall yield (commercial revenue per CTK) for the first quarter increased by 2.6 per cent versus the same period last year, excluding exchange 1.2 per cent, driven by positive premium product volumes and increases in fuel surcharges, partially offset by market price pressure.

The parent, IAG, formed by the merger of British Airways and Iberia, reported an operating loss of $322.7 million in the first quarter of the year, up from a $131.82 million loss a year ago.