IATA reports continued moderate recovery for air cargo

Growth continues amidst uneven patterns across the regions.


IATA


The International Air Transport Association (IATA) released figures showing 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 year-on-year demand expansion recorded in October. This continues an improvement trend in the weak air cargo markets which has been developing over 2013.

All regions reported growth except for Latin America and Africa. The strongest performing region was the Middle East where carriers reported a 16.5 per cent improvement. Significantly, 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 regional differences in demand growth remain broad according to IATA. Carriers in Latin America and Africa reported a slight year-on-year contraction as airlines in the Middle East continue to report double digit growth.