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World air cargo demand up 5pc in July, Asia-Pacific up 4.9pc, Europe 7.2pc
THE International Air Transport Association (IATA) has released data for global air freight markets for July 2016 showing demand in freight tonne kilometres (FTKs) increased five per cent year on year.
"This was the fastest pace in almost 18 months," said IATA. "Freight capacity measured in available freight tonne kilometres (AFTKs) increased 5.2 per cent year on year, outstripping demand and keeping yields under pressure."
Despite the subdued global trade backdrop, carriers in the world's four biggest air cargo markets ?Asia-Pacific, Europe, North America and the Middle East - reported an increase in freight demand. The strongest growth occurred in Europe, up 7.2 per cent with the Middle East rising 6.7 per cent year on year.
"July was a positive month for air freight - which is an all too rare occurrence. Despite that, we must recognise that we face some strong headwinds. Political rhetoric on both sides of the Atlantic is not encouraging," said Alexandre de Juniac, IATA's director general and CEO.
Asia-Pacific airlines reported a 4.9 per cent increase in demand for air cargo in July, growth driven by strong increases in the large within Asian market in recent months.
North American carriers saw freight volumes expand 4.1 per cent while European airlines posted the biggest increase in demand of 7.2 per cent year on year.
With capacity up 3.8 per cent, the positive European performance corresponds with an increase in export orders in Germany over the last few months.
Europe's freight volumes have now surpassed the level reached during the air freight rebound following the Global Financial Crisis. The only other region to achieve this is the Middle East.
Middle Eastern carriers saw air freight demand increase by 6.7 per cent in July with capacity rising 11 per cent. The region's growth rate, while still strong, has eased to half the 14 per cent recorded annually between 2012 and 2015.
"This is mainly attributable to slower freight growth between the Middle East and Asia," said IATA.
Latin American airlines saw demand contract by 5.6 per cent in July while capacity increased 10.1 per cent. "The region continues to be blighted by weak economic and political conditions, particularly in the region's largest economy, Brazil," said IATA.
African carriers recorded a 6.8 per cent decrease in year-on-year freight demand in July - the biggest decline in seven years. African airlines' capacity surged 31.3 per cent on the back of long-haul expansion, albeit from a small base.
"This was the fastest pace in almost 18 months," said IATA. "Freight capacity measured in available freight tonne kilometres (AFTKs) increased 5.2 per cent year on year, outstripping demand and keeping yields under pressure."
Despite the subdued global trade backdrop, carriers in the world's four biggest air cargo markets ?Asia-Pacific, Europe, North America and the Middle East - reported an increase in freight demand. The strongest growth occurred in Europe, up 7.2 per cent with the Middle East rising 6.7 per cent year on year.
"July was a positive month for air freight - which is an all too rare occurrence. Despite that, we must recognise that we face some strong headwinds. Political rhetoric on both sides of the Atlantic is not encouraging," said Alexandre de Juniac, IATA's director general and CEO.
Asia-Pacific airlines reported a 4.9 per cent increase in demand for air cargo in July, growth driven by strong increases in the large within Asian market in recent months.
North American carriers saw freight volumes expand 4.1 per cent while European airlines posted the biggest increase in demand of 7.2 per cent year on year.
With capacity up 3.8 per cent, the positive European performance corresponds with an increase in export orders in Germany over the last few months.
Europe's freight volumes have now surpassed the level reached during the air freight rebound following the Global Financial Crisis. The only other region to achieve this is the Middle East.
Middle Eastern carriers saw air freight demand increase by 6.7 per cent in July with capacity rising 11 per cent. The region's growth rate, while still strong, has eased to half the 14 per cent recorded annually between 2012 and 2015.
"This is mainly attributable to slower freight growth between the Middle East and Asia," said IATA.
Latin American airlines saw demand contract by 5.6 per cent in July while capacity increased 10.1 per cent. "The region continues to be blighted by weak economic and political conditions, particularly in the region's largest economy, Brazil," said IATA.
African carriers recorded a 6.8 per cent decrease in year-on-year freight demand in July - the biggest decline in seven years. African airlines' capacity surged 31.3 per cent on the back of long-haul expansion, albeit from a small base.
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