IAG Cargo today reported its cargo traffic totaled 2.76 million metric-ton-kilometers in the first six months of 2013, falling 8.4 percent compared to the first half of 2012.
In the first half of 2013, cargo capacity for IAG Cargo, created from the merger of British Airways World Cargo and Iberia Cargo, slid 2.7 percent year-over-year, while overall yield remained basically flat.
From January to June, commercial revenue declined 8.3 percent versus the same period last year, reaching €541 million (about US$717.0 million). Operating profit in the first half of 2013 totaled €245 million, down €4 million compared to the second quarter of 2012.
“These results reflect the overall weak market conditions, particularly across the North Atlantic, and Iberia’s capacity reduction, which affected our volumes in the first half of the year,” said Steve Gunning, managing director at IAG Cargo, in a written statement. “Given these operating circumstances, we are pleased with our yield performance.”
Separately, the board of directors of International Airlines Group, parent company of IAG Cargo, has announced that it will propose the appointment of Enrique Dupuy de Lome Chávarri, CFO of IAG, as an executive board director of the company at the next general shareholders’ meeting. Additionally, IAG’s board of directors has appointed Director Alberto Terol Esteban as a new member of the board’s audit and compliance committee.