International Air Transport Association (IATA) released its January 2014 performance report yesterday, which shows a strong rise in airfreight growth, when compared with 2013.
Global freight tonne kilometres (FTKs) increasedby 4.5 per cent in January 2014, when compared withthe same period last year. This is a significant acceleration on the 2.2 per centyear-on-year growth rate that wasrecorded last Decemberand is well above the 1.4 per centfull-year growth reported in 2013,when compared with 2012.
Growth was solid across all regions, with Middle Eastern carriersdeveloping the fastest at 10.7 per cent. In addition, they continue to expand their networks and capacity. Capacity growth, though, remained broadly in line with demand, risingby 11.5 per cent.
European airlines continued to benefit from Europe’s recovery from recession, posting a six per cent growth. Carriers based in the Asia-Pacific region, which account for nearly 40 per cent of the global airfreight market, reported only a 3.8 per centincrease. This represents a major improvement, however, when compared with the one per cent contraction recorded in 2013.
“The improvement in demand is good news. It is a step-up in pace from the mild strengthening that we saw towards the second half of 2013. And, in real terms, volumes are similar to the 2010 post-recession peak. But, there are ample reasons to be cautious. Protectionist measures are part of the reason for a slower expansion of world trade than we would expect from current levels of industrial production. Companies continue to re-organise supply chains in their efforts to move manufacturing on-shore,” says Tony Tyler, IATA’s director-general and CEO.