Air cargo markets: Solid, but unspectacular growth

March was another month of consensus about which way the industry is going (up) and about why, although that part of the news isn’t particularly encouraging. Michael Mackey has the story.

Air cargo markets: Solid but unspectacular growth

First things first, the figures look good. Worldwide freight markets according to global industry body the International Air Transport Association (IATA) logged up a 1.6 per cent rise in volumes in March when measured in FTKs – a result it calls “modest.”

This is more or less a direct match to preliminary figures from regional airline grouping the Association of Asia Pacific Airlines (AAPA), which recorded growth of 1.7 per cent again using FTKs.

A slightly different take on this, one producing a slightly different figure comes from the Airports Council International (ACI) who report “modest growth” of 1.4 per cent when measured by volumes for the month of March.

More to the industry’s liking is the first quarter result IATA published which is year-on-year growth of 5.3 per cent. “This is in line with general global economic trends and slightly higher than the 4.5 per cent growth that was anticipated in IATA’s December outlook,” IATA added. That estimate is close to ACIs first quarter recorded increase of 4.7 per cent year over year.

In turn this is all well behind the 8.4 per cent Asian airlines saw international cargo demand grow during the first quarter.