Confident start to 2022 reported by IAG Cargo as it releases its latest financial results shows

Today, IAG Cargo, the cargo division of  International Airlines Group - IAG  has just reported its latest financial results for the first quarter of 2022, boasting of impressive revenues of €432 million for the period. This is a clear reflection of how IAG Cargo’s growing network has supported international trade, as the global economy is slowly recovering from the global health pandemic.

In Q1 2022 sold tonnage was up 19 per cent on the same period in 2021. Demand was particularly high between Europe and the USA for key industrial goods, including automotive parts, with IAG Cargo increasing the availability of wide-body aircraft on European feeder lanes into Heathrow.  Ecommerce has also remained a major driver of growth for IAG Cargo, with high volumes being shipped into North America.

IAG Cargo reports revenues of €432 million for Q1 2022; an increase of 23.4 per cent on the same time in 2021

IAG Cargo’s Constant Fresh product, for perishable shipments, saw exceptional growth with revenues growing 47 per cent versus the same period in 2021.

IAG Cargo is the single business created following the merger of British Airways World Cargo and Iberia Cargo in April 2011. Following the integration of additional airlines into the business, including Aer Lingus, Vueling and bmi, IAG Cargo now covers a global network. 

 

The return to more widespread passenger flying has also provided a boost to cargo, with new routes opening up and capacity on important trade lanes increasing. In Q1 the business was able to restart cargo flights to Australia – a major milestone in the global recovery from COVID-19.

Commenting on the quarter’s financial results, IAG Cargo Managing Director David Shepherd said: “IAG Cargo has had another busy quarter.  The global economy is increasingly moving on from the confines of the COVID-19 pandemic. Trade and confidence are clearly increasing. At IAG Cargo we are seeing trends that first emerged during the pandemic continue to drive growth, with ecommerce as a stand-out example.”

In Q1 IAG Cargo also continued to transport items usually associated with sea freight as disruption to shipping persists. During this period the business also donated over 125 tonnes of capacity in aid shipments to Ukraine, working with global charities including the Spanish Red Cross and Project HOPE to move vital goods like blankets, kitchen equipment and medical supplies into the region.

 

 

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