IAG Cargo has reported €570 million in revenue for the first half of 2026, down from €629 million during the same period last year, as ongoing disruption in the Middle East continued to affect cargo capacity across its network.
The cargo division of International Airlines Group (IAG) also reported a 12.3% decline in cargo tonne kilometres (CTKs) compared with the first half of 2025, reflecting reduced available capacity caused by the regional disruption.
Joint venture expands global reach
Despite the operational challenges, IAG Cargo continued progressing the rollout of its Global Cargo Joint Business with Qatar Airways Cargo and MASkargo.
The partnership has already begun operating across 59 markets and, once fully implemented, will provide customers with access to more than 400 destinations worldwide, significantly expanding the combined network.
Chief Executive Officer David Shepherd said the company remained focused on meeting customer needs, maintaining commercial discipline and investing in long-term growth despite the disruption affecting parts of its network.
“Pricing strategies and operational efficiencies have helped offset the impact of lower shipment volumes,” he said. “Continued investment in strategic alliances and infrastructure have strengthened the company’s competitive position.”
Shepherd also spoke of investments to increase hub handling capacity, boosting connectivity and operational efficiency across the combined network, ahead of the full launch of the Global Cargo Joint Business.
IAG Cargo
Demand for premium cargo services remained strong in key trade lanes, particularly in Asia-Pacific and India, with specialist logistics products exhibiting robust growth in the first half of the year.
The company’s Critical service for urgent shipments was the best performer, with shipment volumes more than tripling compared to the same period in 2025.
Volumes on its express cargo solution Prioritise increased by 4.1% year on year, while Secure, the company’s specialist service for high value cargo, saw an increase of 8.1%.
Demand for Constant Climate, IAG Cargo’s temperature-controlled logistics offering, also remained strong.
The airline reported increased pharmaceutical shipments from the Asia-Pacific region, alongside growing demand for cargo supporting vaccination programmes across West Africa, where strict temperature control and reliable transit times are essential.
Network continues to expand
Alongside its partnership strategy, IAG Cargo strengthened its international network with the launch of new services to Monterrey, Mexico, and St. Louis, Missouri, which became the airline’s 27th destination in the United States.
The new routes improve access to major manufacturing, automotive and aerospace supply chains, particularly in the U.S. Midwest and Monterrey, one of Mexico’s leading industrial and nearshoring hubs.
New support for aerospace customers
The company also expanded its portfolio of specialist logistics solutions by introducing a dedicated Aircraft on Ground (AOG) service.
Designed to complement its existing Critical product, the new offering provides rapid transportation of urgent aircraft parts and components, helping airlines minimize operational downtime when maintenance issues occur.
Although lower capacity weighed on financial performance during the first half of the year, IAG Cargo said continued investment in premium logistics services, network expansion and its upcoming Global Cargo Joint Business positions the company for long-term growth as market conditions improve.
