IAG reports rise in Q1 load factor, decrease in revenue

IAG Cargo reported revenue of €246 million in the first quarter of 2015, compared to €250 million in last year’s in first quarter. This reflects a decline of just over 1 percent.

Volumes for the cargo divisions of British Airways and Iberia fell 4.2 percent in Q1, year-over-year, to 1.3 billion cargo tonne kilometers. Tonnage carried also dropped by 3.1 percent, y-o-y, to 218,000 tonnes. Capacity was reduced by 8 percent, resulting in a 2 point improvement in load factor and a 2.7 percent yield improvement.

CEO Steve Gunning said the carrier’s practiced “sensible capacity management” by using its substantial bellyhold network while still providing freighter services on key routes, such as Hong Kong-to-London. “The breadth of our network offering has enabled us to participate in the important Asia-U.S. flows and provided a significant boost to our business last quarter,” he said.