Airfreight demand, measured in freight tonne kilometres (FTKs), once again achieved double-digit growth, increasing by 12.1% in August, compared to the same period a year ago, according to the latest statistics released by the International Air Transport Association (Iata).
This is the fifth time in six months that double-digit gains on the previous year’s performance have been recorded. “Demand is growing at exceptional speed when compared to the five-year average growth rate of 4.4%,” according to Iata.
“Demand growth continues to significantly outstrip capacity growth, which is positive for industry load factors, yields, and financial performance.
“The strong performance in airfreight demand corresponds with the pick-up in global trade. World trade volumes grew 4.2% in the first seven months of 2017 compared to 2016, the strongest performance since 2011. This is consistent with rising export orders, which are currently around their highest levels since March 2011, and upbeat business confidence indicators.”
"Rapid growth in cargo demand means that cargo capacity is now growing in response to real cargo demand rather than automatically as carriers responded to passenger demand. The pace of capacity growth, however, has slowed even as freighter fleets are being utilised more intensely. Overall, that should be good news for much beleaguered cargo yields," said Alexandre de Juniac, Iata’s director general and CEO.
African carriersposted the largest year-on-year increase in demand of all regions in August with freight volumes growing 29.4%. “This is a slight slowdown from July but still more than three times the five-year average pace of growth of 8.8%. Capacity increased by 5.9% over the same period. Demand has been boosted by very strong growth on the trade lanes to and from Asia which increased by more than 67% in the first half of the year.”
