Global air freight demand, measured in freight tonne kilometres (FTKs), rose 8.5% in April over the previous year. While this was down from the 13.4% year-on-year growth recorded in March, it is well above the average annual growth rate of 3.5% over the past five years, according to the latest data released by the International Air Transport Association.
Growth in freight capacity, measured in available freight tonne kilometres (AFTKs), slowed to 3.9% in April 2017.
“Business confidence indicators remain consistently upbeat, suggesting year-on-year FTK growth will remain robust for the rest of the second quarter,” says director general and CEO Alexandre de Juniac. “However, there are signs that the cyclical growth peak for air cargo has passed, particularly given that the inventory-to-sales ratio stopped falling at the end of last year. Air cargo often sees a boost in demand at the beginning of an economic upturn as companies look to restock inventories quickly. This tapers as inventories are adjusted to new demand levels. Over the whole year, air freight is headed for a healthy growth rate of 7.5%, supported by strong pharmaceuticals and e-commerce.”
From a regional perspective, African carriersposted the largest year-on-year increase in demand of all regions in April with freight volumes growing 26%. Capacity increased by 17.7% over the same time.
Demand has been boosted by very strong growth on the trade lanes to and from Asia which have increased by nearly 55% so far this year, according to the data. The region’s load factor however remains challenged - the lowest of all regions and well under half that of carriers based in Asia-Pacific.
