IATA: US and Asia Pacific lead revival of 5.4%

FTK in October have seen a year-on-year rise of 5.4 per cent because of improving economic conditions in the US and strong trade in Asia Pacific, according to the IATA airlines financial monitor.


airfreight FTK IATA International Air Transport Association


Freight tonne kilometres (FTK) in October have seen a year-on-year rise of 5.4 per cent because of improving economic conditions in the US and strong trade in Asia Pacific, according to the International Air Transport Association (IATA) airlines financial monitor. The region seeing the largest rise in FTK in October was the Middle East, up 13 per cent. Africa saw the next highest rise of 9.6 per cent, followed by Asia Pacific at 6.7 per cent. Latin America was up 4.1 per cent, followed by North America at 3.1 per cent. Europe saw the smallest rise of 1.4 per cent. FTKs for the total market rose by 5.4 per cent in October.

IATA says: “Airfreight volumes continue to expand … supported by improving economic conditions in the US and strong trade growth in Asia Pacific.” It says airlines have also been helped by crude oil prices falling by 36 per cent from the mid-year peak of US$122 per barrel.

According to IATA, the jet fuel price was US$86 dollars a barrel as of 5 December, which is down 32.9 per cent on one year ago. The drop has been attributed to the strength of the US dollar and growth in supply, particularly in the US. This, the association says, has offset geopolitical threats from other oil producing nations.