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Airfreight volumes surge 14pc in March: IATA
GLOBAL airfreight volumes soared 14 per cent year over year in March 2017, the highest growth rate since October 2010, according to recent figures from the International Air Transport Association (IATA).
Available airfreight capacity increased 4.2 per cent for the month compared with March 2016, American Shipper reported.
IATA said the continued growth in airfreight demand in March is "consistent with an uptick in world trade and a six-year high in new export orders."
"An increase in the shipment of silicon materials typically used in high-value consumer electronics shipped by air, is also likely underpinning a portion of the strong performance," the association added.
Asia Pacific airlines saw volumes surge 13.6 per cent in March, while volumes carried by European airlines jumped 18.2 per cent, North American airfreight volumes grew 9.5 per cent, and Middle Eastern airlines carried 16.3 per cent more cargo than in the same month last year.
African airlines posted the largest year-over-year increase in demand, however, with airfreight volumes soaring 33.5 per cent from March 2016.
Latin American airlines were the only group to see volumes decline during the month, with shipments falling 4.2 per cent from the previous year.
Through the first three months of 2017, airfreight volumes have jumped nearly 11 per cent compared with the first quarter last year, according to IATA. Capacity increased 3.7 per cent over the same period.
"March capped a robust first quarter with the strongest year-on-year air freight growth in six-and-a-half years," IATA Director General and CEO Alexandre de Juniac said in a statement. "Optimism is returning to the industry as the business stabilises after many years in the doldrums.
"There is, however, still much lost ground to recover while facing the dual headwinds of rising fuel and labor costs," he added.
Available airfreight capacity increased 4.2 per cent for the month compared with March 2016, American Shipper reported.
IATA said the continued growth in airfreight demand in March is "consistent with an uptick in world trade and a six-year high in new export orders."
"An increase in the shipment of silicon materials typically used in high-value consumer electronics shipped by air, is also likely underpinning a portion of the strong performance," the association added.
Asia Pacific airlines saw volumes surge 13.6 per cent in March, while volumes carried by European airlines jumped 18.2 per cent, North American airfreight volumes grew 9.5 per cent, and Middle Eastern airlines carried 16.3 per cent more cargo than in the same month last year.
African airlines posted the largest year-over-year increase in demand, however, with airfreight volumes soaring 33.5 per cent from March 2016.
Latin American airlines were the only group to see volumes decline during the month, with shipments falling 4.2 per cent from the previous year.
Through the first three months of 2017, airfreight volumes have jumped nearly 11 per cent compared with the first quarter last year, according to IATA. Capacity increased 3.7 per cent over the same period.
"March capped a robust first quarter with the strongest year-on-year air freight growth in six-and-a-half years," IATA Director General and CEO Alexandre de Juniac said in a statement. "Optimism is returning to the industry as the business stabilises after many years in the doldrums.
"There is, however, still much lost ground to recover while facing the dual headwinds of rising fuel and labor costs," he added.
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