The strong performance of air cargo in recent months continues into October, with Asia-Pacific carriers among the winners of an improving world economy, according to the latest data from the International Air Transport Association (IATA).
World demand, measured in freight tonne kilometers (FTKs), rose 5.4% in October compared to October 2013, and grew 0.7% from September 2014, bringing freight volumes to a new record monthly high.
“The good results reflect the improvements in world trade and business activity which have been evident since the summer,” said IATA in a statement.
Asia-Pacific carriers reported a 6.7% increase in FTKs, boosted by the release of the iPhone 6, and solid increases in trade and exports from emerging Asian economies. Looking forward, the rate of growth in the Chinese economy continues to slow down which may impact on air cargo.
Elsewhere, carriers in the Middle East and Africa, just like those in Asia, saw demand grow faster than the global trend. North America, Europe, and Latin America grew more slowly.
More significantly, however, carriers in all regions except for Europe improved on their year-to-date performance. Cargo demand for European carriers grew by a weak 1.4% compared to the previous October, reflecting economic uncertainty and the impact of sanctions as a result of the Russia-Ukraine crisis.
“We are now back to levels of demand not seen since the 2010 post-recession bounce-back. But the industry is still in the hot seat and under pressure to improve its value offering,” said Tony Tyler, IATA’s director general and CEO, as he urged the industry to continue investing in meeting customers’ expectations to keep up with the growing competitiveness of other modes of cargo.
Photo: aeroprints
