IAG Cargo has reported revenue of €570 million for the first half of 2026, down from €629 million in the same period last year, as ongoing disruption in the Middle East impacted capacity and volumes.
Cargo tonne kilometres (CTKs) declined by 12.3 per cent year-on-year, reflecting reduced network capacity. Despite these challenges, the cargo division of International Airlines Group (IAG) maintained a strong focus on commercial discipline, customer demand and long-term investment.
During the period, IAG Cargo progressed the rollout of its Global Cargo Joint Business with Qatar Airways Cargo and MASkargo, with operations already active across 59 markets. Once fully implemented, the joint business is expected to offer customers access to more than 400 destinations worldwide.
David Shepherd, Chief Executive Officer of IAG Cargo, said the business remained resilient despite market pressures. “Despite continued disruption affecting parts of the network, our focus remained on responding to customer needs, maintaining commercial discipline and investing in long-term growth,” he said.
He added that pricing strategies and a targeted approach to key trade lanes helped offset lower volumes, while ongoing investment in infrastructure and partnerships is positioning the company for future expansion.
Commercially, IAG Cargo reported strong demand across major trade lanes, particularly Asia Pacific and India, alongside continued growth in its specialist product portfolio. Volumes for its urgent ‘Critical’ service more than tripled compared with H1 2025, while its ‘Prioritise’ product saw a 4.1 per cent increase in volumes. The ‘Secure’ service for high-value shipments also grew by 8.1 per cent year-on-year.
Demand for temperature-controlled logistics remained robust, with its ‘Constant Climate’ product benefiting from increased volumes from Asia Pacific and growing demand linked to vaccination programmes across West Africa, where reliability and strict temperature control are essential.
Network expansion remained a priority, with new routes launched to Monterrey and St. Louis, marking the airline’s 27th US destination. These additions enhance connectivity to key manufacturing hubs, including the US Midwest and Monterrey, a major centre for automotive and high-tech industries and an important player in North American nearshoring trends.
In addition, IAG Cargo introduced a dedicated Aircraft on Ground (AOG) service, designed to support the rapid movement of critical aviation components and further strengthen its time-critical logistics offering.
As the company prepares for the full launch of its Global Cargo Joint Business, it continues to invest in expanding hub handling capacity to improve efficiency, connectivity and customer experience across its growing global network.