IATA releases report for global air freight markets in January

7 March 2016 (Last Updated March 7th, 2016 18:30)

The International Air Transport Association (IATA) has reported 2.7% year-over-year growth in the worldwide air freight markets in January.

The International Air Transport Association (IATA) has reported 2.7% year-over-year growth in the worldwide air freight markets in January.

The total freight tonne kilometres (FTK) in January crossed the record mark set by the total FTK of February 2015.

With the exception of Africa and Latin America, FTK for all air freight markets rose during the period according to the IATA report.

However, the freight load factor (FLF) reportedly declined by 1.8% points across all regions.

"Removing barriers to trade is a win-win. It will shore-up the foundations for stronger economies."

This is a result of the weak trade performance worldwide that is even expected to affect the FTK expansion over the coming months.

IATA director general and CEO Tony Tyler said: "Air cargo plays a vital role in our globalised and fast-paced world in which trade is the foundation for long-term prosperity.

"Removing barriers to trade is a win-win. It will shore-up the foundations for stronger economies.

"And an improved business environment for air cargo will help facilitate much needed technology and process investments so that the industry will be an even stronger catalyst for growth and development.

"A third of the value of goods traded internationally are delivered by air. But the value of air cargo goes much deeper in the prosperity that it creates in supporting jobs and economic opportunity."

The Middle Eastern airlines have recorded the highest air freight market with a consistent expansion of 8.8% in January. The FLF reported a minimal fall of 0.3% points to 39.2%.

Latin American airlines showed a decrease in FTK by 1.4%, while the African carriers recorded a decline of 1.4% in January this year compared to January 2015.

The FLF dropped by 4.8% to 22.6% in Africa, and by 2.7% to 32.9% in Latin America.

Other regions that revealed a year-over-year expansion in the air freight market include Asia-Pacific (1.3%), Europe (2.5%) and North America (2.5%).

The FLF shows a decline for Asia-Pacific carriers by 2.3% to 49.8%, European airlines by 1.5% to 41.6%, and North American carriers by 1.4% to 34.6%.