IAG 2013 Q3 revenues down

Changes in exchange rates, in particular the strengthening of the Euro against other currencies over the last year, have had a significant impact on revenues.


IAG Cargo


IAG Cargo has announced its Q3 results from July 1 to September 30, 2013, reporting commercial revenue (flown revenue plus fuel surcharges) of €256 million, a decrease of 14.1 per cent against the same period last year. Changes in exchange rates, in particular the strengthening of the Euro against other currencies over the last year, have had a significant impact on revenues. At a constant exchange rate, Q3 revenue would be down 9.4 per cent.

Volumes of 1,394 million cargo tonne kilometres (CTKs) represent a decrease of 7.7 per cent versus Q3 2012. Cargo capacity was down 2.0 per cent.Overall yield (commercial revenue per CTK) for the quarter decreased by 7 per cent versus the same period last year. Excluding the effect of exchange brings this to a 1.9 per cent decrease.