IATA’s August 2014 data for global air freight
markets show continued robust growth in air cargo volumes.
Measured by freight tonne kilometers
(FTKs), volumes rose 5.1% in August, compared to August 2013.
Capacity grew at a slower pace of 3.4% from the previous year.
This is the second strong month for cargo
volumes in a row, following the 6.1% year-on-year rise recorded in
Carriers in all regions reported an expansion in
volumes. Closely following improvements in world trade and
business activity, airlines in the Middle East, North America and
Asia reported the strongest growth in the 5-8% range. By
comparison demand in Europe and Latin America lagged in the 1-1.5%
range as a result of Brazilian economic weakness and EU sanctions
on business with Russia, respectively.
“The outlook for air
cargo is clearly getting better. However, there are some limiting
factors on the extent of potential gains. Demand for air cargo is
growing more slowly than global economic activity. Businesses are
reported to have more confidence in the future, but the list of
political and economic risks continues to moderate how that
confidence translates into actual activity,” said Tony Tyler,
IATA’s Director General and CEO.
Asia Pacific carriers grew 6.3%, continuing the
acceleration of recent months. Emerging Asia trade volumes have
expanded volumes solidly in June and July. A notable rise in
Chinese export orders bodes well for future demand growth.
Capacity expanded 4.4%.
European airlines grew 1.4%.
Economic activity within the Eurozone continues to deteriorate,
although the latest data does show a moderate pick-up in imports
and exports. EU sanctions as a result of the Russia-Ukraine crisis
also continues to affect demand. Capacity expanded 4.8%.
North American carriers increased air freight volumes by a
solid 5.5% compared to a year ago. A rebound in business activity following the weakness in the first quarter and positive
underlying economic growth trends should support stronger growth
in the coming months. Capacity fell 0.4%.
Eastern carriers reported cargo growth of 7.8%, a little below the
year-to-date average of 9.6%. The Middle East continues to expand
strongly on its growing links to developing markets, as well as
diversifying into important commodities such as perishables.
Capacity was up 6.0%.
Latin American airlines saw air
cargo grow by a sluggish 1.1% compared to August 2013. The
weakness in Latin American freight volumes reflects declines in
regional trade activity and the anemic performance of the
Brazilian economy. Capacity expanded 7.6%.
airlines reported the strongest growth of air cargo demand with a
9.2% year-on-year expansion. Although this is the second
consecutive month of strong growth, the volatility of African
data, coupled with the slowdown in key African economies such as
South Africa, means it is too soon to understand the extent to
which this represents a real and sustainable acceleration. Capacity grew 4.2%.
See other recent news regarding: