2021 overview

In 2021 the role of air cargo remained very much in the spotlight. Our people went above and beyond to find solutions to the global capacity crunch and airfreight restrictions and, in turn, we were able to keep world trade moving, delivering essential supplies and the vital components of everyday life. Our ‘always moving’ mantra enabled us to deliver for our customers as passenger flying continued to be disrupted.

We reshaped our business to take advantage of the strong cargo market and actively repurposed Group capacity when appropriate. The business delivered record revenues of €1,673 million, up 28 per cent from 2020, with a sustained resurgence in the volume of flights and yields exceeding 2020 levels.

In the second half of the year we saw momentum build. Capacity started to return, and the business began to take increasingly confident steps towards a more stable future as the economic recovery from the COVID-19 pandemic gained ground. IAG Cargo also saw conversions from sea freight as shippers turned to air cargo to minimise the impact of supply chain disruption. We are still endeavouring to utilise available fleet and crew to align our network to cargo customer demand, with cargo-only flying.

“Our people have worked tirelessly to adapt our business to the opportunities presented by a strong cargo market, unlocking every possible opportunity for the Group and achieving record revenues.”

David Podolsky Chief Executive Officer of IAG Cargo