IAG Cargo — International Airlines Group (IAG) cargo division — reported revenues of €1.2bn in 2024, up 6.7% on 2023.
Full year cargo volumes were up 12.6% compared to 2023. Fourth quarter revenues were up 25.5% to €364 million.
"Air cargo achieved strong growth in 2024 with demand surpassing the record volumes of 2021, and our performance is reflective of this," said David Shepherd, CEO of IAG Cargo.
Full year cargo volumes were up 12.6% compared to a year prior.
However, Shepherd said “external factors” are impacting air cargo logistics and consumer behaviour.
“The industry experienced a two-speed market during the year," he continued. "In the East, supply chain constraints and geopolitical factors drove yield growth but limited capacity, while conversely, capacity outpaced demand, putting pressure on yields.”
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