IAG Cargo announced its performance for the second quarter of the year, where it reported commercial revenues was up 33.1% year on year to €369 million (US$437 million) at constant currency. 

Overall yields for the quarter were also up 224.7% to the same time last year at constant currency, reflecting the extra costs of cargo-only flying and dedicated charters and a significantly changed flying programme. Sold tonnes, however, were down by 51.2%.

“Q2 was, of course, dominated by the COVID pandemic. As passenger aircraft were grounded across the world, our teams adapted to ensure IAG Cargo continued to play a crucial role in supporting global trade and the movement of essential goods in these extraordinary times," said Lynne Embleton, CEO at IAG Cargo.

“We rapidly developed one of the most comprehensive networks of scheduled cargo-only flights available; a network of over 340 scheduled flights per week built around our customers’ needs and tailored to the most important cargo flows. We have reconfigured aircraft to maximise cargo capacity, removing seats and using overhead lockers. These were important capacity solutions, albeit ones that brought additional operational complexity and cost," she added.

During this second quarter, IAG Cargo operated 615 charters, including 416 critical supply operations for the British, Irish and Spanish authorities.

Continued impact on aviation

To date, it has also helped governments and private customers transport over 11,000 tonnes of PPE and medical supplies on these charters. 

“The pandemic continues to greatly impact the air cargo industry and businesses at large. For aviation, this is most clearly evident in the sustained restrictions on passenger movements, and, for cargo specifically, on the impact on the global economy,” Embleton said.