IATA: Global Air Freight Demand Up 8.8 Per Cent In November

KUALA LUMPUR, Jan 11 (Bernama) -- Global air freight market demand, measured in freight tonne kilometres, rose 8.8 per cent in November 2017 compared with the same period in 2016, said the International Air Transport Association (IATA). In a statement Wednesday, IATA said this was an increase from the 5.8 per cent annual growth recorded in October 2017, despite air cargo having passed a cyclical growth peak. It said freight capacity, measured in available freight tonne kilometres, rose by 4.0 per cent year-on-year (y-o-y) in November. The association, which represents some 275 airlines commanding 83 per cent of global air traffic, said this was the 16th consecutive month in which demand growth outstripped capacity growth, which was positive for load factors, yields and financial performance. The IATA said air freight demand remained robust, keeping up the momentum that would make 2017 the strongest year for air cargo since 2010. “There are several indicators that 2018 will be a good year as well. In particular, buoyant consumer confidence, growth of international e-commerce and broad-based global economic upturn are causes for optimism in the New Year,” said Alexandre de Juniac, IATA’s Director-General/Chief Executive Officer. As for regional performance, IATA said the airlines in all regions reported an increase in total demand y-o-y in November. Asia-Pacific airlines saw freight volumes increase by 8.1 per cent and capacity expand by 1.2 per cent in November 2017 compared to the same period in 2016. “The region’s manufacturers continue to enjoy buoyant export order books. “And the major exporters in China and Japan are reporting rising demand supported in part by a pick-up in economic activity in Europe and a continued solid performance from the US,” it added. -- BERNAMA