In the face of what it is calling \u201cchallenging market conditions,\u201d IAG Cargo said its commercial revenues for the first quarter of 2016 for 1.5 percent to \u20ac262 million, compared to the same Jan.1 to March 31 period last year. While cargo figures were unimpressive, IAG\u2019s overall performance was strong enough for Qatar Airways to increase its investment in IAG from 9.99 percent to nearly 12 percent.
\nIAG Cargo noted that it had adjusted the prior year\u2019s figures to reflect a directly comparable operation.\u00a0Without further explanation, IAG said that \u20ac20 million previously listed as \u201cother\u201d revenue to has now been recorded as \u201ccargo\u201d revenues in 2015. As a result of this amendment, commercial revenue decreased 8.6 percent versus last year\u2019s adjusted Q1 figures, at constant exchange. Also, IAG Cargo\u2019s volumes were down 1.8 percent, while yields fell 6.9 percent, at constant exchange.
\n\u201cThese are respectable results in the face of a challenging market,\u201d said Drew Crawley, CEO at IAG Cargo. \u201cThe trading conditions experienced towards the end of last year have continued into 2016. The industry is also cycling over the west coast port strike that dominated the start of 2015, producing an unusually strong start to last year. Despite this high benchmark, the numbers reported today show that a relentless focus on premium products, strong cost control and precision management of our capacity and yields is helping our business to withstand these headwinds.\u201d
\nIAG Cargo also noted that it had achieved double-digit growth in tonnages of in its Constant Climate and Prioritise products.
\n\u201cOur network expansion over the coming months will also be welcome news for our customers as we expand into strong cargo markets,\u201d read a company statement. IAG Cargo said it has announced routes from Madrid into Shanghai and Johannesburg this year, and expects to see addition perishables and pharmaceutical flows via its expansion into the South American destinations of Lima, San Juan and San Jose.
\nBy Q2 of this year, IAG said it expects to see greater integration with Aer Lingus Cargo, possibly adding new routes to its network from Dublin to Hartford, Newark and Los Angeles this year.
\nRegarding the Qatar\/IAG relationship, oneworld alliance partners Qatar and IAG have benefited from the increased connections to North America via IAG\u2019s British Airways subsidiary and to Asian network through Qatar\u2019s routes. Speaking at the recent Arabian Travel Market conference in Dubai, Qatar CEO Akbar Al-Baker called IAG\u2019s 2015 performance \u201cabsolutely over-the-moon,\u201d adding that \u201cthey\u2019ve already announced record profits and the first quarter was very good.\u201d
\nEuropean Union rules state that airlines located outside the bloc cannot own more than 49 percent of a European carrier.
\nIAG\u2019s CEO Willie Walsh, said in February that the Qatar Airways partnership could\u00a0expand joint purchases, add to code-sharing arrangements and coordinate cargo units.
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
In the face of what it is calling \u201cchallenging market conditions,\u201d IAG Cargo said its commercial revenues for the first quarter of 2016 for 1.5 percent to \u20ac262 million, compared to the same Jan.1 to March 31 period last year. While cargo figures were unimpressive, IAG\u2019s overall performance was strong enough for Qatar Airways to[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":1421,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/comments?post=1420"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media\/1421"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media?parent=1420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/categories?post=1420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/tags?post=1420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}