IAG Cargo, the freight division of IAG (International Airlines Group), reported revenue of €411 million ($419 million) for the second quarter ended June 30, 2022.

“The Q2 results bring IAG Cargo's half-year revenue to €843 million ($859.9 million), an increase of 9.6 percent compared to the first half of 2021,” an official release says.

IAG Cargo's Q22022 tonnage increased 4.6 percent, while total revenue at constant exchange rates declined 2 percent from the same period in 2021, despite the return of passenger-led capacity, the statement said.

“The route expansion included opening a new service to Portland from London-Heathrow, and new services to Dallas and Washington from its Madrid hub, while the company also resumed services to Pittsburgh. Globally, IAG Cargo continues to expand its network and has eight destinations as of 2019 from its hub in Madrid.

David Shepherd, Managing Director, IAG Cargo, said: “While there are undoubtedly challenges for the entire airline industry, our results today show that our investments in route expansion and digitalization are paying off. The return of global passenger traffic enables additional cargo capacity, turning our pre-pandemic schedules are back and we are launching new routes for customers.

“During the quarter, we strengthened our executive team with two key appointments, welcoming Caroline Andrews as Chief People Officer and David Walker as Chief Digital and Information Officer, to support our journey as we continue to transform and invest in our people and our company. "

IAG Cargo was an early adopter of the Freightos WebCargo Pay solution in June, "opening capacity to an even wider audience of SMB freight forwarders." It also expanded its sustainable aviation fuel (SAF) partnerships with Kuehne+Nagel and Bollore, the statement said.

IAG Cargo purchased more than 10 million liters of SAF last year to reduce customer supply chain emissions on a net life cycle basis by approximately 24,400 tons of CO2 in the past year, the statement said.

IAG Cargo had commercial sales of €1.7 billion ($1.7 billion) in 2021 and a combined workforce of more than 2,250 people. Its parent company, International Airlines Group, is one of the world's largest airline groups with 531 aircraft as of December 31, 2021.