Weak market conditions, particularly on the North American trade lanes, hit volumes and sales at IAG Cargo in the first quarter.
Volumes of 1,364 million cargo tonne kilometres was down eight per cent on last year. Cargo capacity was down 1.7 per cent.
Commercial revenue, at €270 million, was down 7.2 per cent against the same period in 2012.
Overall yield (commercial revenue per CTK) for the quarter increased by 0.8 per cent versus the same period last year. Excluding the effect of exchange brings this to a 1.2 per cent increase.
Managing director Steve Gunning said: “During the first quarter we have seen weak market conditions, particularly on the North American trade lanes. Industrial action at Iberia during February and March also affected the load factors.
“Two years on from the creation of IAG Cargo, we are focused on delivering an outstanding global cargo network for our customers coupled with a single set of products, accessible via a range of easy-to-use booking channels.”