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'Solid' start to 2016 for global air freight industry, IATA data shows
THE International Air Transport Association (IATA) says global air freight markets in January saw freight tonne kilometres (FTK) increase by 2.7 per cent compared to the previous year.
But the freight load factor (FLF) declined by 1.8 percentage points, with yields expected to come under further pressure.
All except Africa and Latin America expanded in January, but all regions reported declines in the FLF. "Despite this good start, the underlying weak trade performance makes it unlikely that growth will accelerate significantly in the coming months," said IATA.
"It is good news that volumes are growing, but yields and revenues are still under tremendous pressure," said IATA director general, Tony Tyler, former CEO of Hong Kong's Cathay Pacific Airways.
Asia Pacific carriers expanded by 1.3 per cent year over year, although the international freight figure was a much lower at 0.2 per cent. The FLF fell 2.3 percentage points to 49.8 per cent.
North American airlines saw FTKs expand 2.5 per cent in January against a year earlier. The FLF was 34.6 per cent, a fall of 1.4 percentage points.
European airlines' demand grew by 2.5 per cent in January but the FLF fell 1.5 percentage points to 41.6 per cent.
Typically a bright spot, Middle Eastern carriers resumed their strong growth trend, expanding 8.8 per cent in January. The FLF was broadly stable, declining just 0.3 percentage points to 39.2 per cent.
Latin American carriers continued their weak performance of recent months, declining 3.6 per cent. The FLF fell 2.7 percentage points, down to 32.9 per cent. Brazil, the region's largest economy, has struggled, particularly with the fall in the price of oil and other commodities.
African airlines' FTKs decreased by 1.4 per cent in January year on year, and the FLF was 22.6 per cent, down 4.8 percentage points, and the lowest of any region.
But the freight load factor (FLF) declined by 1.8 percentage points, with yields expected to come under further pressure.
All except Africa and Latin America expanded in January, but all regions reported declines in the FLF. "Despite this good start, the underlying weak trade performance makes it unlikely that growth will accelerate significantly in the coming months," said IATA.
"It is good news that volumes are growing, but yields and revenues are still under tremendous pressure," said IATA director general, Tony Tyler, former CEO of Hong Kong's Cathay Pacific Airways.
Asia Pacific carriers expanded by 1.3 per cent year over year, although the international freight figure was a much lower at 0.2 per cent. The FLF fell 2.3 percentage points to 49.8 per cent.
North American airlines saw FTKs expand 2.5 per cent in January against a year earlier. The FLF was 34.6 per cent, a fall of 1.4 percentage points.
European airlines' demand grew by 2.5 per cent in January but the FLF fell 1.5 percentage points to 41.6 per cent.
Typically a bright spot, Middle Eastern carriers resumed their strong growth trend, expanding 8.8 per cent in January. The FLF was broadly stable, declining just 0.3 percentage points to 39.2 per cent.
Latin American carriers continued their weak performance of recent months, declining 3.6 per cent. The FLF fell 2.7 percentage points, down to 32.9 per cent. Brazil, the region's largest economy, has struggled, particularly with the fall in the price of oil and other commodities.
African airlines' FTKs decreased by 1.4 per cent in January year on year, and the FLF was 22.6 per cent, down 4.8 percentage points, and the lowest of any region.
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