Air cargo continues moderate recovery
The proverbial light at the end of the very dark tunnel appears to be growing ever brighter as the recent statistics from the International Air Transport Association (IATA) indicate.
January 31, 2014
The proverbial light at the end of the very dark tunnel appears to be growing ever brighter as the recent statistics from the International Air Transport Association (IATA) indicate. The latest figures show a 6.1 per cent growth in demand (measured in freight tonne kilometers or FTK) for air freight in November 2013, over the same month in the previous year.
November’s performance is an improvement on the 4.4 per cent yearon- year demand expansion recorded in October and importantly it also continues an improving trend in the weak air cargo markets which has been developing over the last half of 2013. While all regions reported growth except for Latin America and Africa, the November figures crucially provide some relief for the Asia-Pacific region which has been the growth laggard over the last few months.
Asia-Pacific carriers, who account for some 40 per cent of the market, reported 4.9 per cent growth, more than doubling the 1.8 per cent growth of October. Healthy demand coupled with a slower expansion in capacity helped to improve the average load factor to 49.2 per cent which is 0.7 percentage points above the previous November.
“The November results are encouraging— particularly for carriers in the Asia-Pacific region. This good news is largely being driven by improving economic prospects in China along with an overall boost on Asian trade routes. The uptick is a welcome development in a weak performing market. Overall volumes, when adjusted for seasonality, are still below the peaks reached in 2010 and 2011,” said Tony Tyler, IATA’s director general and CEO.