IAG Cargo’s first quarter revenue was down 2.5 per cent on last year at €275m, reflecting a decline in the international air freight market.
Although sold tonnes were up 2.5 per cent, yield fell 5 per cent. CTK volumes (cargo tonne kilometre) were up 2.6 per cent, while capacity grew by 4.8 per cent.
Chief executive Lynne Embleton said: A weak Asia Pacific market has been partially offset by strong performance from South America and Africa, helping us to steadily grow volumes. This change in regional mix has reduced our average yields.
“Our investment in premium products has continued.”