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Global air freight grows 5.4% in October: IATA
The International Air Transport Association (IATA) released October data for the global air freight market showing that air cargoâs strong performance in recent months was continuing
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he International Air Transport Association (IATA) released October data for the global air freight market showing that air cargo's strong performance in recent months was continuing.
Global air cargo demand, measured in freight tonne kilometers (FTK), rose by 5.4 percent in October this year compared to October 2013.
Compared to the previous month, demand had grown by 0.7 percent, bringing freight volumes to a new record monthly high, IATA director general and CEO Tony Tyler said on Wednesday.
'The good results reflect improvements in world trade and business activity, which have been evident since the summer. World trade is growing steadily, supporting increased air cargo shipments,' Tyler said.
He said, however, that regional differentiation in performance was very apparent.
Carriers in the Middle East, Africa and Asia-Pacific saw demand grow faster than the global trend, while North America, Europe and Latin America grew more slowly.
'Middle Eastern carriers once again record double-digit increases, expanding by 13 percent. Carriers in the region have diversified, expanding their services in perishables and linking growing markets in Asia and Africa,' he explained.
In addition, the Asia-Pacific carriers, including Indonesia, reported a 6.7 percent increase in FTKs throughout October, boosted by the release of the iPhone 6, and solid increases in trade and exports from emerging Asian economies.
'Looking forward, the rate of growth in the Chinese economy continues to slow, which may impact on air cargo,' he noted.
Meanwhile, cargo demand for European carriers grew by a weak 1.4 percent compared to the previous October, reflecting economic uncertainty and the impact of sanctions as a result of the Russia-Ukraine crisis.
IATA represents 240 airlines comprising 84 percent of global air traffic. Its statistics cover international and domestic scheduled air freight for IATA member and non-member airlines.(+++)
