IAG Cargo, the Cargo Division of International Airlines Group (IAG) published its financial results for 2024. The company reported commercial revenue of € 1.234 million for the period from January 1 to December 31, 2024 which represents an increase of 6.7 percent.
“In 2024, air freight achieved strong growth with the question that exceeded the record volumes of 2021, and reflect our performance,” said David Shepherd, CEO of IAG Cargo.
“External factors still affect air freight logistics and consumer behavior. The industry experienced a two -speed market during the year. In the East, the supply chain restrictions and geopolitical factors caused yield growth, but the capacity exceeded the demand, which put the yields under pressure.
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“It only highlights the need for greater efficiency, agility and resilience in the sector, and this is where our efforts and investments were made last year,” Mr Shepherd added.
In 2024, the company introduced a market -based pricing system to better align the offers with real -time market dynamics. A new income management system has also been implemented, increasing the prediction and optimization of planning a better performance for customers. In addition, the capacity for temperature-controlled cargo at its Madrid-perishable facility expanded by 45 percent, while a new operating control center at the London Heathrow-Naaf opened the improvement of operational accuracy.
“The digital transformation of our systems is underway, and it is great to see the impact that it is not only on efficiency and processes across the business, but also for our clients. With digitalization comes data, and moving forward, it will be invaluable to enable us to maximize flow and increase flexibility and efficiency for customers, ”marks Mr. Shepherd on.
The sales of IAG Cargo’s premium products performed well throughout the year. The constant climate, a product designed for temperature -sensitive pharmaceutical products, had a significant increase in tonnage in 2024 compared to 2023.
Mr Shepherd concluded: ‘I am proud of what we achieved in 2024. We have made strategic decisions and investments that have built up a strong basis for sustained growth in 2025 and beyond. These decisions are already making greater value and choice for our clients. Our focus remains on prioritizing technical investments, digital infrastructure and exploring new capacity opportunities that supplement our network to grow our reach. “
