IATA report shows 12.7% surge in global air freight demand in May 2017
Global air freight data published by the International Air Transport Association (IATA) has revealed that demand, measured in freight tonne kilometres (FTKs), increased by 12.7% in May when compared to the same month last year.
The global air freight market in May also recorded an increase from the 8.7% annual growth registered in April this year, and is more than three times higher than the five-year average FTK growth rate of 3.8%.
In addition, freight capacity, measured in available freight tonne kilometres (AFTKs), rose by 5.2% during May, as compared to the same period last year.
The consistent growth in air freight demand is in line with an improvement in world trade, which in turn corresponds with new global export orders remaining close to a six-year high in May.
During the third quarter of this year, air freight demand worldwide is expected to increase at a significant rate of 8%.
IATA director general and CEO Alexandre de Juniac said: “May was another good month for air cargo. Demand growth accelerated, bolstered by strong export orders. And that outpaced capacity growth which should be positive for yields.
“But the industry can’t afford to rest on its laurels. With indications that the cyclical growth period may have peaked, the onus is on the industry to improve its value proposition by accelerating process modernisation and enhancing customer-centricity.”
All regions worldwide, with the exception of Latin America, reported a year-on-year double-digit surge in airfreight demand in May 2017.
African carriers registered the largest year-on-year growth with cargo volumes rising by 27.6% during the period.