News / 'Rudderless' IAG Cargo reports a strong – but 'unsurprising' – first quarter

© Giovanni Gagliardi

IAG Cargo has announced a strong set of first-quarter results, but observers question whether the success is sustainable, given the exodus of senior management and the lack of a chief executive.

Commercial revenues grew 50%, on a constant currency basis, to €350m ($425.75m), driven said IAG by automotive and e-commerce.

IAG Cargo is known for seeking bounteous yields and low tonnage, lacking the infrastructure for serious volume growth, and managed to achieve this: overall yields for the quarter were up 106%, while ...