International Airlines Group, the carrier formed by the merger of British Airways and Spain’s Iberia, increased first half cargo revenues by 16.7 percent from a year ago, driven by higher traffic and yields.
Revenue rose to $847 million in the six months through June against $728 million in the same period in 2010, while traffic grew 8.3 percent and yield was up 7.3 percent.
IAG didn’t say whether its cargo unit made a profit and didn’t provide a breakdown between BA and Iberia, which merged their freight operations in April.
Revenue growth slowed in the second quarter, increasing 9.4 percent year-on-year to $432 million, while traffic was up 7.9 percent and yield improved by 1.5 percent over the second quarter of 2010.
Overall, IAG reported a first half pre-tax profit of $55.8 million against a $599 million loss a year ago on revenue 17.9 percent higher at $11.2 billion. There was an operating profit of $125.8 million against a $442 million loss a year earlier.
IAG Chief Executive Willie Walsh said he expects the group to deliver “significant growth in operating profit this year,” despite surging fuel prices.
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