IAG Cargo, which includes the British Airways and Iberia cargo operations, saw sales rise 10.6 per cent to 880m euros for the first nine months.
Traffic volume was up 5.3 per cent to 4.56 bn cargo tonne kilometres while cargo capacity for the quarter was up 6.2 per cent for the year to date. Overall yield increased by 4.9 per cent.
Managing director Steve Gunning said: “Against a backdrop of robust results for the first half of 2011, the results for the third quarter reflect the challenging conditions facing the world economy. The contraction in demand for Asian exports, a result of the European debt crisis and the sluggish US economy, has meant only a modest growth in revenue compared to the same period in 2010.
“Because of this, we are cautious about future performance, although we believe our geographically diverse revenue base and measured capacity reintroduction leave us well positioned.
British Airways World Cargo has taken delivery of the first of three Boeing 747-8 Freighters which will replace its current fleet of 747-400 freighters. It will be the first freighter aircraft since 2000 to be branded with British Airways’ livery.
IAG has reached an agreement to buy British Midland (BMI) from Lufthansa. However, the deal is subject to regulatory clearances.