Air freight volumes on the up, but some fear a slowdown
IATA chief questions how long the industry can maintain momentum
Air freight volumes in June continued to show growth on last year, but there are doubts whether volumes can continue to grow at this level.
Scheduled freight traffic grew 26.5% year-on-year in June, according to the International Air Transport Association (IATA), but lagged behind the 34% year-on-year growth reported in May.
However, May traffic was exceptionally high as it included some delayed traffic from April’s volcano ash crisis, and volumes remain 6% above the pre-recession peak of early 2008.
IATA said cargo load factor remained “historically” high at 53.8% in June, but it was down from the 55.7% reported in May, when capacity increased “slightly” ahead of volumes.
IATA Director General and CEO Giovanni Bisignani said: “The question is: how long can the industry maintain the double-digit momentum?
“Business confidence remains high and there is no indication that the recovery will stall any time soon.
“But, with government stimulus packages tailing off and restocking largely completed, we expect some slowing over the months ahead.”
Bisignani added: “A clear indication of the growing confidence was more than 400 aircraft orders announced at the UK Farnborough Air Show.
“This is good news that will bring environmental benefits through improved fuel efficiency. But it will also make the challenge of matching capacity to demand much more difficult.”
Freight demand continues to follow economic recovery and trade patterns, with airlines in Asia-Pacific up 29.8% year-on-year in June, 39.6% up in the Middle East, 44.9% up in Latin America and 54% up in Africa.
Carriers in North America saw volumes grow by 24.2%, while Europe was at half the rate of the fastest-growing economies, at 15.3%.
Europe remains the only region still 5-6% below the pre-recession peak.
“The low value of the euro will be a help to the region’s exporters and eventually drive-up freight volumes,” IATA added.
African, Asian and Latin American carriers boosted capacity rapidly over the last quarter, according to IATA.
Asia-Pacific airlines, including Korean Air, Singapore Airlines and Cathay Pacific, three of the world’s largest air freight providers by size, boosted capacity measured in available freight tonne kilometres (AFTK) by 20.5%, year-on-year.
African and Latin American airlines increased AFTK by 23.3% and 25.3%, respectively, but their European and North American counterparts were far more cautious, expanding AFTK by just 2.1% and 5.9% compared to a year earlier.
Scheduled freight traffic grew 26.5% year-on-year in June, according to the International Air Transport Association (IATA), but lagged behind the 34% year-on-year growth reported in May.
However, May traffic was exceptionally high as it included some delayed traffic from April’s volcano ash crisis, and volumes remain 6% above the pre-recession peak of early 2008.
IATA said cargo load factor remained “historically” high at 53.8% in June, but it was down from the 55.7% reported in May, when capacity increased “slightly” ahead of volumes.
IATA Director General and CEO Giovanni Bisignani said: “The question is: how long can the industry maintain the double-digit momentum?
“Business confidence remains high and there is no indication that the recovery will stall any time soon.
“But, with government stimulus packages tailing off and restocking largely completed, we expect some slowing over the months ahead.”
Bisignani added: “A clear indication of the growing confidence was more than 400 aircraft orders announced at the UK Farnborough Air Show.
“This is good news that will bring environmental benefits through improved fuel efficiency. But it will also make the challenge of matching capacity to demand much more difficult.”
Freight demand continues to follow economic recovery and trade patterns, with airlines in Asia-Pacific up 29.8% year-on-year in June, 39.6% up in the Middle East, 44.9% up in Latin America and 54% up in Africa.
Carriers in North America saw volumes grow by 24.2%, while Europe was at half the rate of the fastest-growing economies, at 15.3%.
Europe remains the only region still 5-6% below the pre-recession peak.
“The low value of the euro will be a help to the region’s exporters and eventually drive-up freight volumes,” IATA added.
African, Asian and Latin American carriers boosted capacity rapidly over the last quarter, according to IATA.
Asia-Pacific airlines, including Korean Air, Singapore Airlines and Cathay Pacific, three of the world’s largest air freight providers by size, boosted capacity measured in available freight tonne kilometres (AFTK) by 20.5%, year-on-year.
African and Latin American airlines increased AFTK by 23.3% and 25.3%, respectively, but their European and North American counterparts were far more cautious, expanding AFTK by just 2.1% and 5.9% compared to a year earlier.
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