IAG Cargo Reports €1.24 Billion in 2025 Revenue as Premium Volumes Increase

IAG Cargo delivered commercial revenues of €1,238 million in 2025, a 0.3 percent increase year over year, as demand for time-critical and specialist services supported performance.

The cargo division of International Airlines Group (IAG) reported cargo tonne kilometers up 0.4 percent compared to 2024, while overall yield remained in line with the previous year.

Demand for time-critical shipments remained strong. Volumes in Critical, IAG Cargo’s premium priority product, increased 41 percent year over year, while perishables volumes rose 12 percent. Growth was particularly notable on trade lanes from Latin America into Europe, especially into Madrid, where volumes increased 22 percent, supported by strong perishables flows.

“In a year shaped by shifting global trade flows and evolving tariff policies, we ended 2025 with a solid performance,” said David Shepherd, CEO of IAG Cargo. He added that improved capacity planning and continued investment in digital and operational capabilities strengthened the resilience of the business and positioned it for greater agility in 2026.

In June 2025, IAG Cargo announced plans to form a Global Cargo Joint Business with Qatar Airways Cargo and MASkargo, subject to regulatory approval, aimed at expanding market access and improving connectivity across regions. The company also expanded its third-party handling capabilities, with MASkargo shipments now processed through its London Heathrow hub.

Throughout the year, IAG Cargo continued to invest in digital tools and process improvements to enhance forecasting, simplify booking and improve operational reliability across its global network.