Air cargo growth on warp speed

The Middle East is forecast to be the fastest growing air cargo region over a four-year period, with a compound annual growth rate (CAGR) of 4.7%, according to the International Air Transport Association’s Airline Industry Forecast 2014- 2018 report launched last month. The United Arab Emirates (UAE) will have the third largest international air cargo market in the world by 2018. According to the Iata report, the UAE will see freight totalling nearly 5 million tonnes in 2018, behind only the United States and China. Iata said the UAE would be adding more than 1 million tonnes of freight in 2018 compared to today. The report added that another notable growth country would be Qatar with a CAGR of 5%, making it the sixth-fastest growing – and expected to take its total freight tonnes to 1 484 000. INSERT & CAPTION 4.7% Expected annual growth rate for the Middle East over the next four years.