IAG Cargo reported that third-quarter 2021 (Q3) revenues represent an increase of 34.4% at constant currency versus the same period last year. Overall yield for Q3 was down 2.0% at constant currency versus 2020. Sold tonnes were up 42.6%. The results come on top of IAG Cargo’s half-year revenue of €769 million and delivering total revenue to date of €1,174 million in 2021, up 28.0% on the same time last year.
The quarter’s success has been achieved through a sustained resurgence in the volume of flights offered by IAG Cargo. Overall, IAG Cargo has seen a 24% increase in capacity on the previous quarter and a 62.2% increase compared to Q3 last year. The increased activity reflects growing levels of global trade, as many economies experience recovery following the COVID-19 pandemic. New routes during the quarter included Nairobi, Istanbul, Male, Chennai, Vienna, Denver and Phoenix whilst many other lanes saw increased frequencies.
During the quarter, IAG Cargo’s ability to provide a fast, efficient and global service, connecting East to West, has been in high demand. IAG Cargo’s hubs in Heathrow, Madrid and Dublin have been pivotal, with a significant increase in interline activity. IAG Cargo also increasingly saw conversions from sea freight as shippers turned to air freight to minimise the impact of the well-publicised supply chain disruption.
