Author: Tan KW | Publish date: Wed, 1 Jun 2016, 03:16 PM
By theedgemarkets.com / theedgemarkets.com | May 31, 2016 : 7:09 AM MYT
KUALA LUMPUR (May 31): Global air freight markets for April 2016 showed a 3.2% increase in demand measured in freight tonne kilometers (FTKs) compared to the same period last year, according to the International Air Transport Association (IATA).
In a statement yesterday, the IATA said yields remained pressured as April freight capacity (measured in available freight tonne kilometers or AFTKs) increased by 6.6% year-on-year.
It said the increase in demand was broad-based across all regions with the exception of Latin America.
IATA said the strongest growth occurred in the Middle East and Europe, with April demand up by 7.7% and 6.8%, respectively, compared to the same period last year.
The association said while growth appeared to be stronger than in the preceding months of 2016, this was largely due to the disappearance from the comparison data of distorting factors associated with the 2015 strike at seaports on the US West Coast.
It said that overall, the demand for air cargo remains soft and lags behind the relatively robust growth on the passenger side of the business.
IATA said this was largely driven by weak world trade.
It said the first quarter of 2016 saw the first annual decline in trade volumes since the global financial crisis in 2009, and the World Trade Organization (WTO) predicted only sluggish growth for the remainder of 2016.
IATA director general and CEO Tony Tyler said while the April uptick in demand growth for air cargo is encouraging, the overall economic environment is not.
“The decline in global trade does not bode well for air cargo markets in the months ahead,” he said.
In a statement yesterday, the IATA said yields remained pressured as April freight capacity (measured in available freight tonne kilometers or AFTKs) increased by 6.6% year-on-year.
It said the increase in demand was broad-based across all regions with the exception of Latin America.
IATA said the strongest growth occurred in the Middle East and Europe, with April demand up by 7.7% and 6.8%, respectively, compared to the same period last year.
The association said while growth appeared to be stronger than in the preceding months of 2016, this was largely due to the disappearance from the comparison data of distorting factors associated with the 2015 strike at seaports on the US West Coast.
It said that overall, the demand for air cargo remains soft and lags behind the relatively robust growth on the passenger side of the business.
IATA said this was largely driven by weak world trade.
It said the first quarter of 2016 saw the first annual decline in trade volumes since the global financial crisis in 2009, and the World Trade Organization (WTO) predicted only sluggish growth for the remainder of 2016.
IATA director general and CEO Tony Tyler said while the April uptick in demand growth for air cargo is encouraging, the overall economic environment is not.
“The decline in global trade does not bode well for air cargo markets in the months ahead,” he said.
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