IAG Cargo's results boosted by pharma business
IAG Cargo generated commercial revenues of EUR 1.17 billion in 2018, 7.2% higher than in 2017 at constant currency. The overall yield for 2018 increased by 8.1% at constant currency. Sold tonnes rose by 0.2%, CTK volumes fell by 0.9% whilst capacity grew by 3.8%.
CEO Lynne Embleton: "Revenues from our 'Constant Climate' product grew by 9%, and we invested in a new multi-million euro 'Constant Climate' centre in Madrid to help meet growing demand for pharmaceutical shipments, in particular to the South American market."
Officially opened this week, work on the new facility began in June 2018. It is the latest addition to IAG Cargo’s Madrid hub, which handles over 250,000 t of cargo per year. Like IAG’s 'Constant Climate' hubs in London and Dublin, the new 500 sqm facility is GDP certified. (ah)