IAG Cargo has announced its 2019 full year results, reporting commercial revenues of €1,117m over the period from January 1 to December 31, 2019, a decrease of 7.2 per cent on 2018.
Overall yield for the year was down 4.9 percent at constant currency. Sold tonnes were down 2.8 percent and CTK volumes were down 2.4 percent whilst capacity grew by 1.0 percent.
Lynne Embleton, chief executive officer, IAG Cargo, commented: “As IATA has noted, it has been a tough year for the air cargo industry. The decline in our reported revenues for 2019 reflects these challenging macroeconomic and market conditions, whilst the strength of our network and products has shielded us from the worst of the drop in demand.
“At the start of 2019, we announced the opening of a pharmaceutical centre at our Madrid hub, dedicated to our Constant Climate product. Since opening this Good Distribution Practice (GDP) certified facility, Constant Climate revenue out of Spain has grown by over 20 percent vly, giving strong return on our multi-million-euro investment and demonstrating the continued importance of the product.
“As part of this year’s Hangar 51, our group wide innovation programme, we have been working alongside a start-up that uses machine learning technology to optimise data extraction processes.
“These exciting developments are part of IAG Cargo’s continuous programme of investment to ensure we are delivering the best possible service for our customers. As we head in to 2020, we are confident that our strategy of focusing on customer service, technology and the strength of our products will continue to deliver for customers worldwide.”