IAG Cargo has reported a stable financial performance for the year ended 31 December 2025. Commercial revenues saw a slight increase year-on-year, and cargo volumes remained broadly in line with 2024 levels.

Cargo tonne kilometres (CTKs) experienced modest growth compared to the previous year, while overall yield was maintained at similar levels. This resilience was evident in a global trade environment characterized by shifting flows and evolving tariff policies.

Premium and perishables segments were key drivers of momentum. Demand for time-critical services remained robust. Volumes for Critical, IAG Cargo's premium priority product, rose significantly year-on-year, and perishables volumes also achieved double-digit growth.

Trade lanes from Latin America into Europe showed notable expansion, particularly into Madrid, bolstered by strong perishables flows.

David Shepherd, Chief Executive Officer of IAG Cargo, stated: "In a year shaped by shifting global trade flows and evolving tariff policies, we ended 2025 with a solid performance. Through improved capacity planning, we delivered greater consistency across our network, while continued investment in digital and operational capability strengthened the long-term resilience of the business."

He added that the company is entering 2026 with enhanced stability and a clear foundation for sustainable growth.