Airfreight demand (measured in freight tonne kilometres) rose by 9.2% in September 2017 compared to September 2016 and, while it was the slowest pace of growth seen in months, it was still “significantly higher” than the five-year average growth rate of 4.4%.
This according to figures released yesterday (Wednesday) by the International Air Transport Association (Iata) showing that freight capacity (measured in available freight tonne kilometres or AFTKs), had risen by 3.9% compared to September last year — less than half the pace of demand growth. This is positive for industry load factors, yields, and financial performance.
Alexandre de Juniac, Iata director general and CEO, highlighted that the statistics seemed to indicate that the industry had passed a cyclical growth peak, pointing out that with year-to-date demand growth of 10.1%, the Iata forecast of 7.5% growth in airfreight demand for 2017 appeared to have significant upside potential even if the peak of the economic cycle had passed.
African carriers posted the largest year-on-year increase in demand of all regions in September this year, with freight volumes rising 17.7%. This is a slowdown from August but still more than twice the five-year average growth pace of 8.9%. Capacity increased by 2.6% over the same time period. Demand has been boosted by very strong growth on the trade lane to and from Asia which increased by more than 67% in the first eight months of the year.
