World Air Freight Grew 13 Percent In May
Global demand for air freight increased 12.7 percent in May as world trade improves, IATA said in its monthly report.
The monthly growth, compared to the same period last year, was up from April 2017’s 8.7 percent increase. IATA said the five year average growth rate for freight is just 3.8 percent.
The 12.7 percent rise in freight tonne km (FTK) was on an AFTK capacity increase of 5.2 percent. Global freight load factor rose by 3.0 percentage points to 45.2 percent.
Regionally, Africa returned the biggest percentage rise in freight carried, 27.6 percent, but accounts for just 1.6 percent of the global total.
Of the major markets, Europe topped the list with a 15 percent increase in FTKs, followed by North America on 13.9 percent and Asia Pacific showing an 11.3 percent lift.
In terms of cargo capacity, Africa again led the growth list with a 14.7 percent increase. Latin America added 7.1 percent more capacity and Asia Pacific 6.2 percent. Europe put on 5.7 percent and North America 4.1 percent. The Middle East was the laggard in capacity growth terms with an increase of just 1.7 percent.
“May was another good month for air cargo. Demand growth accelerated, bolstered by strong export orders,” IATA Director General Alexandre de Juniac said. “But the industry can’t afford to rest on its laurels. With indications that the cyclical growth period may have peaked, the onus is on the industry to improve its value proposition by accelerating process modernisation and enhancing customer-centricity.”