IATA: Air Freight Strong Performance Continues
The International Air Transport Association (IATA) October data for global air freight markets shows a strong performance of air cargo is continuing. Demand rose 5.4% in October compared to October 2013 while capacity grew by 4.4%. Compared to September demand grew by 0.7% which is a new monthly high.
The good results reflects that world trade is growing steadily which supports increased air cargo shipments.
There is still regional differentiation in performance:
- Middle East, Africa and Asia-Pacific saw demand grow faster than the global trend
- North America, Europe and Latin America grew more slowly
- 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
From Tony Tyler, IATA’s Director General and CEO:
“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. Customer expectations have evolved dramatically. Other modes of cargo have improved their competitiveness. Shippers expect the efficiency of electronic processes that they experience in almost every other sector. And when shipping specialty products—such as those requiring cold chain control—they expect quality from end-to-end. The industry is investing to build its future by meeting these expectations.”
To read the entire article: IATA
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