Air cargo sales slipped 0.3 per cent in the first half at IAG Cargo, which includes British Airways and Iberia, to 590m euros.

Traffic volume was down 1.8 per cent to 3,010 million freight tonne kilometres, while cargo capacity for the same period was up 3.7 per cent.

Overall yield (commercial revenue per FTK) for the first half increased by 1.5 per cent versus the same period last year. Excluding exchange this yield was down 1.8 per cent.

Managing director Steve Gunning said: “Today’s results represent solid overall performance when set against an economic climate that has continued to prove challenging. However, due to continued questions over the pace and consistency of economic recovery we remain cautious about future performance.

“The company continues to leverage the benefits of integration, offering customers an end-to-end global network and a competitive premium product portfolio. Additionally, we continue to evolve our customer distribution channels to ensure that we provide a service that is dynamic and user-friendly. By focussing squarely on network reach, product excellence and dynamic distribution we are building a foundation for the company that will drive long-term growth.”

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