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Cargo-only PAX flights boost IAG Cargo's 2020 revenues by 19pc
来源：Shipping News Headlines 编辑：编辑部 发布：2021/03/08 09:27:03
IAG Cargo has achieved an 18.5 per cent year-on-year increase in revenues to EUR1.3 billion (US$1.6 billion) in its full-year 2020 financial results.
"Cargo helped to make long haul passenger flights viable," said Luis Gallego, chief executive of parent company IAG.
Meanwhile, yields climbed 94.6 per cent and sold tonnes of capacity declined 34.9 per cent to 444,000.
"One consequence of the reduction in passenger capacity across the industry was a reduction in hold space available for cargo purposes, leading to reduced overall cargo supply and a more favourable cargo yield environment than in the previous year," said parent company IAG in its full-year 2020 financial report.
In Q4 2020, IAG Cargo reported a 33.2 per cent year-on-year increase in revenues to EUR389 million. Sold tonnes of capacity declined 32.6 per cent to 118,000.
"Q4 saw higher demand leading up to Christmas, benefitting from e-commerce, pharmaceuticals and automotive shipments," the company said, reports London's Air Cargo News.
Lynne Embleton, chief executive at IAG Cargo, commented: "In 2020, the IAG Cargo team delivered exceptional results amid a challenging economic and capacity environment. Our top priority was to maintain a broad network and product proposition for cargo customers despite the pandemic.
"Without a freighter fleet, we adapted our operations and quickly established a comprehensive network of scheduled cargo-only flying using the group's passenger aircraft. We identified markets most in need of air cargo supply, where the demand could support the yields required to cover the costs of cargo-only-services.
"In March we assembled a charter team to develop dedicated capacity solutions for customers and governments. During the year we operated more than 1,000 charters and removed the seats from five passenger aircraft to create even more capacity for our customers.
She added: "With the international focus on fighting Covid-19, we moved over 20,000 tonnes of PPE in 2020 and large quantities of sanitiser, ventilators and Covid-19 testing kits, alongside our regular movements of food, medicines, high tech and parts for industry.
"Constant Climate, our cold chain service for transporting temperature sensitive pharmaceutical products, performed particularly well with revenue increasing by more than 10 per cent on 2019 and December saw us fly our first doses of Covid-19 vaccines."
"Cargo helped to make long haul passenger flights viable," said Luis Gallego, chief executive of parent company IAG.
Meanwhile, yields climbed 94.6 per cent and sold tonnes of capacity declined 34.9 per cent to 444,000.
"One consequence of the reduction in passenger capacity across the industry was a reduction in hold space available for cargo purposes, leading to reduced overall cargo supply and a more favourable cargo yield environment than in the previous year," said parent company IAG in its full-year 2020 financial report.
In Q4 2020, IAG Cargo reported a 33.2 per cent year-on-year increase in revenues to EUR389 million. Sold tonnes of capacity declined 32.6 per cent to 118,000.
"Q4 saw higher demand leading up to Christmas, benefitting from e-commerce, pharmaceuticals and automotive shipments," the company said, reports London's Air Cargo News.
Lynne Embleton, chief executive at IAG Cargo, commented: "In 2020, the IAG Cargo team delivered exceptional results amid a challenging economic and capacity environment. Our top priority was to maintain a broad network and product proposition for cargo customers despite the pandemic.
"Without a freighter fleet, we adapted our operations and quickly established a comprehensive network of scheduled cargo-only flying using the group's passenger aircraft. We identified markets most in need of air cargo supply, where the demand could support the yields required to cover the costs of cargo-only-services.
"In March we assembled a charter team to develop dedicated capacity solutions for customers and governments. During the year we operated more than 1,000 charters and removed the seats from five passenger aircraft to create even more capacity for our customers.
She added: "With the international focus on fighting Covid-19, we moved over 20,000 tonnes of PPE in 2020 and large quantities of sanitiser, ventilators and Covid-19 testing kits, alongside our regular movements of food, medicines, high tech and parts for industry.
"Constant Climate, our cold chain service for transporting temperature sensitive pharmaceutical products, performed particularly well with revenue increasing by more than 10 per cent on 2019 and December saw us fly our first doses of Covid-19 vaccines."