IAG Cargo, the cargo division of International Airlines Group (IAG) has released its financial results for the first half of 2023, reporting revenues of €603 million, or around US$660 million. 

This represents an 8.5 percent jump compared to the same period before the pandemic in 2019 but a 28.5 percent dive year-on-year. Yields for the first half were down from the same period last year, tonnage was up 6.5 percent and 15.3 percent lower in comparison to H1 2019. 

IAG Cargo spent the first half of the year investing in its facilities, operations, and senior leadership team, as well as expanding its network. It reintroduced services to China and added a new route to Cincinnati. It continued to reintroduce services between London, Beijing and Shanghai as well as increasing frequency to Hong Kong and Japan. It also opened a new cargo handling facility, New Premia, at London Heathrow hub, doubling its handling capacity for premium shipments.