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IATA Predicts Stronger  Global Air Cargo Traffic
IATA Predicts Stronger  Global Air Cargo Traffic

IATA Predicts Stronger Global Air Cargo Traffic

IATA Predicts Stronger Global Air Cargo Traffic

The International Air Transport Association released demand growth results for global air freight markets for February 2017 showing an 8.4% increase in demand measured in Freight Ton Kilometers compared to the same period last year. After adjusting for the impact of the leap year in 2016, demand increased by 12%—almost four times better than the five-year average rate of 3%.
The pick-up in air freight volumes over the past nine months has been set against an upturn in global economic and trade conditions. Business surveys point to another quarter of robust annual FTK growth in Q2, iata.org reported.
Industry-wide FTK growth has made a strong start to 2017, with air freight outperforming wider world trade since mid-2016. European and Asian carriers have driven the bulk of growth. Traffic growth has been fastest on international segment-based routes within Asia, as well as between Asia and Europe. Demand conditions across the Pacific have weakened over the past quarter, and broader momentum in FTKs has slowed.
The continued growth of air freight demand in 2017 is consistent with an uptick in world trade which corresponds with new global export orders remaining at elevated levels in March.
All regions, with the exception of Latin America, reported an increase in demand in 2017.
Asia-Pacific airlines posted the largest year-on-year demand increase among regions in February 2017 with freight volumes growing 11.8% (more than 15% adjusting for the leap year). Capacity increased by 2.0% over the same time.
North American airlines’ freight volumes expanded 5.8% (or more than 9% adjusting for the leap year) in February 2017 compared to the same period a year earlier, and capacity decreased by 3.1%.
European airlines posted a 10.5% (or around 14% adjusting for the leap year) increase in freight volumes in February 2017 and a capacity increase of 1.4%.
Middle Eastern carriers’ year-on-year freight volumes increased 3.4% (or approximately 7% adjusting for the leap year) in February 2017 and capacity decreased 1.7%.
Latin American airlines experienced a contraction in demand of 4.9% (or around 1% adjusting for the leap year) in February 2017 compared to the same period in 2016 and a decrease in capacity of 7.2%.
African carriers’ saw freight demand increase by 10.6% (or more than 14% adjusting for the leap year) in February 2017 compared to the same month last year and capacity increase by 1.0%.

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