IAG Cargo reported that its third quarter performance — both in terms of revenues and volumes — have exceeded levels seen in 2019 citing surge in capacity across its global network.

The cargo carrier noted that its total revenues in the July to September period stood at €405 million, showing a 34.1% increase compared with a year ago.

Sold tonnes were up 42.6%, it added, noting that the quarter’s success has been achieved through a "sustained resurgence" in the volume of flights offered by IAG Cargo.

Overall, IAG Cargo has also seen a 24% rise in capacity on the previous quarter and a 62.2% increase compared to the same quarter in 2020.

"The increased activity reflects growing levels of global trade, as many economies experience recovery following the COVID-19 pandemic. New routes during the quarter included Nairobi, Istanbul, Male, Chennai, Vienna, Denver and Phoenix whilst many other lanes saw increased frequencies," IAG Cargo said.

Sea freight to air freight conversions

During the quarter, it noted that its ability to provide a "fast, efficient and global service, connecting East to West, has been in high demand."

It added that IAG Cargo's hubs in Heathrow, Madrid and Dublin have been pivotal, with a significant increase in interline activity as it "increasingly saw conversions from sea freight as shippers turned to air freight to minimise the impact of the well-publicised supply chain disruption."

"This quarter we have seen momentum build as IAG Cargo, and the global economy, begins to take increasingly confident steps towards a more buoyant future, as recovery from the COVID-19 pandemic continues to gain ground," said David Shepherd, managing director at IAG Cargo.

"The team's resilience and commitment to put our customers first continues, and we are excited to enter into a new and ambitious phase of activity," he added.