Air Freight Demand Growth Continues To Ease
Global air freight demand rose 9.2 percent in September, but the rate of growth continues to ease.
The International Air Transport Association (IATA) said in its monthly update that the rate of growth is moderating but is still higher than the five year average of 4.4 percent.
IATA Director General Alexandre de Juniac said that while the rate was slowing “it remains stronger than anything we have seen in recent memory. But there are signs that this demand spurt may have peaked.”
In the year-to-date, demand growth was 10.1 percent, well ahead of IATA’s forecast of 7.5 percent for the full year. IATA said there “appears to have significant upside potential even if the peak of the economic cycle has passed.”
All regions grew strongly, with Africa once again leading the demand growth table on 17.7 percent, Europe came in second with 10.3 percent and Asia Pacific third on 9.3 percent. North American demand growth was 7.4 percent.
Capacity in available freight tonne kms grew in all regions, with Latin America adding 5.9 percent, Europe 5.6 percent, and Asia Pacific 5.3 percent. North America added 1.4 percent more capacity, with the global total increase coming in at 3.9 percent.
Load factors showed positive gains in every region, with the total market adding 2.2 percentage points to 45.5 percent.