IAG Cargo, the cargo division of International Airlines Group (IAG), saw 2022 full year commercial revenues of €1,615m – up 44.6 % from pre-pandemic levels in 2019, but 3.5% down vs 2021.
Overall yields for the year were down 3.7% in comparison to 2021, tonnage was up 4.1%.
In 2022, the network saw significant growth, re-establishing its pre-pandemic shape with IAG Cargo now serving six continents.
Notable regions included Asia – with IAG Cargo now operating 112 weekly services between India and London, up from 104 in pre-pandemic times.
Additional enhancements to the network capacity came through the development of European freighter opportunities that fed into IAG Cargo’s hubs throughout the year, which has continued into 2023.
The business also focused on enhancing customer experience by investing in digital capabilities, improving online merchandising, operational effectiveness and infrastructure. Developments included the installation of a new mechanical handling system at its hub in Madrid, Spain.
David Shepherd, Chief Executive Officer at IAG Cargo said: “IAG Cargo has a truly global reach and the ability to move the goods that drive the global economy. We have seen significant expansion to our Asia network, and I’m excited that our direct services between China and the UK will be back after a long pause in April.
“2022 has also seen us return to higher levels of handled tonnage through our hubs in London, Madrid and Dublin. Our investment in continuous improvement processes has resulted in the increased volumes being handled with greater productivity and performance than in previous years.”
