Solid Q1 growth registered by airfreight carriers

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arrowAirfreight carriers posted solid growth in the first quarter of 2014 compared to the year-ago period, boosted by a significant uptick in movements from Asia, according to a provider of air cargo data.

WorldACD said global cargo volumes grew nearly 6.7 percent in the first three months of the year from the same quarter in 2014, accompanied by a yield drop to 2.6 percent year-over-year, to establish what may be “a nice springboard for the remainder of the year.”

Compared to February 2014, March showed strong improvements as well, such as a revenue growth month-over-month of 29 percent, arrived at through a 25 percent volume growth and a 3.5 percent yield growth.

The biggest tonnage spike came from the Asia-Pacific region, with Europe and the U.S. as top destinations. WorldACD said that compared to the previous years, the jump from February to March was the largest seen for the Asia-Pacific.

Meanwhile, Cargolux Airlines reported a full-year profit in 2013 of US$8.4 million coming from a $35.1 million net loss in 2012, and a tonnage growth of 16.7 percent to 753,848 tonnes from 645,759 tonnes. Total revenues last year rose 14.4 percent to $1.98 billion from $1.73 billion in 2012.

Despite the airline’s return to profitability and a moderate recovery in the last quarter, Cargolux said the industry continued to operate in a difficult environment for the most part of 2013.

“We don’t expect market conditions to improve significantly in 2014,” said group president and CEO Dirk Reich. “Our priority is to grow and expand our global network with the continued support and valuable contribution of our hardworking employees while focusing on efficiency and performance improvements.”

Photo: Steve Snodgrass