IAG Cargo’s new long-haul, low-cost airline brand, Level, which was launched in March this year, will be integrated into the airline’s cargo operations from June and join its four other airline brands - British Airways, Iberia, Aer Lingus and Vueling.
IAG Cargo said Level would open up its new and first long-haul, wide-body cargo gateway in Barcelona, providing three new routes into the Americas.
Using Airbus A330-200 aircraft, the service will fly to Los Angeles (LAX), Punta Cana (PUJ) in the Dominican Republic, and Buenos Aires (EZE), Argentina.
Also, IAG Cargo has just released its financial results for the first quarter of 2017.
Although cargo volumes and capacity grew by 3.6% and 12% respectively year-over-year during the quarter, revenues fell 2.3% to the equivalent of R3.77 billion.
“Increased demand from Asia Pacific and Europe has led to a growth in airfreight volumes between the two regions, driven in part by sea freight constraints,” said IAG Cargo chief financial officer, Lewis Girdwood. “Through the first quarter of the year we saw a 34% rise in volumes from Europe to Asia Pacific compared to the same period in 2016, with fashion, spare parts, fresh fish and leather goods performing particularly well.
“UK and European markets have also performed well throughout the first quarter of the year, with notable strong North American demand from the perishables and aerospace sectors,” he added.
Overall though, Girdwood noted the global airfreight market remained challenging, with poor weather conditions in Latin America affecting substantial fresh produce flows and a continued oversupply of capacity in the market placing pressure on yields.
