May 10 - IAG Cargo - the air freight division of the International Airlines Group - has seen its revenue for Q1 2013 drop by 7.2 percent year-on-year to EUR270 million (USD350.9 million).
IAG Cargo flew approximately 1.36 billion cargo tonne kilometres (CTK) in Q1 2013, representing a year-on-year decrease of 8 percent. Cargo capacity was down 1.7 percent.
Commercial revenue per-CTK for the quarter improved by 0.8 percent year-over-year.
IAG Cargo was formed two years ago following the merger of British Airways World Cargo and Spain's Iberia Cargo. Steve Gunning, managing director of IAG Cargo commented: "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."
www.iagcargo.com
