Global airfreight markets achieved modest growth in September, according to data released by the International Air Transport Association (Iata).
Measured in freight tonne kilometres (FTKs), air cargo volumes rose 1.0% compared to the same month a year ago. This is a slight improvement on the August performance when volumes were broadly stable. Overall, however, air cargo volumes remain 1.2% down from their 2014 year-end peak.
The results varied widely by region. Carriers in the Middle East reported the most significant growth (7.5%) followed by European (2.8%) and African airlines (2.5%). Asia-Pacific based airlines recorded negligible growth (0.3%), and markets in North America (-3.3%) and Latin America (-6.4%) recorded declines. All regions reported capacity expansions ahead of growth in demand, taking the freight load factor down to the lowest level since 2009 (43.2%).
“Although slightly improved from August, the global trend is fragile, and the improvement is narrowly based. The 2.8% growth reported by European carriers reflects positive trends in trade with Central and Eastern European economies as well as a general improvement in manufacturing in the Eurozone. But the largest air cargo region, Asia-Pacific, was only just in positive territory, held down by weak regional trade,” said Tony Tyler, Iata’s director general and CEO.
