Airfreight enters 2015 ‘propelled by a solid growth trend’

The air cargo industry enters 2015 propelled by a solid growth trend, noted the International Air Transport Association (Iata) in its latest data report.

November 2014 data for global air freight markets, released by Iata this week, shows that demand measured in freight tonne kilometres (FTK) grew 4.2% compared to November 2013. Capacity grew by 3.3% over the previous November.

Compared to October 2014, air freight demand expanded by a healthy 0.8%.
According to Iata, the most significant growth was recorded by carriers in the Asia-Pacific and Middle East regions, at 5.9% and 12.9%, respectively. Carriers in these regions captured the vast majority of the global increase (93%).

Carriers in Asia-Pacific accounted for 55% of the total year-on-year growth (with a market share of 39.7%), while airlines in the Middle East region contributed a further 38% of growth (with a market share of 13.3%).

“More goods are being traded internationally and that is fuelling the growth in air freight. This year we expect air freight markets to expand by 4.5%, outpacing projected growth in world trade (4.0%). But that optimism is tempered by the many macro-economic and political risks that continue to impact trade flows,” said Tony Tyler, Iata director general and CEO.

Africa’s FTKs grew by 10.5%, maintaining the positive trend of previous months. Load factors also improved as capacity was trimmed by 2.9%. 

“The air cargo industry enters 2015 propelled by a solid growth trend. Shippers have a choice in modes of transport and, like customers everywhere, demand ever greater value. To turn the growth into sustained stronger profitability, the air cargo industry faces the challenge of investing in more efficient and higher quality processes and facilities that will give it the winning edge over its competitors,” said Tyler.