News / Europe's air freight carriers report weak results, laying blame on global downturn

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Continued weak global trade has lead to flat – or worse – air freight results at Europe’s three leading carriers.

IAG Cargo, the least transparent, said its third-quarter commercial revenue, July 1 to September 30, was €238m, up 0.8% on a year earlier. Volumes were down 4.7%, year-on-year.

Noting that market conditions remained “challenging”, it said pressure on yields had led to a 4.5% decline, at constant exchange rates.

Steve Gunning, CEO, said the “new normal” in air freight was characterised by “excess ...