Air freight volumes down 1.2pc
Published on: Tuesday, January 12, 2016
Kuala Lumpur: The air cargo volumes, measured in freight tonne kilometres (FTKs), fell 1.2 per cent in November 2015 compared to November 2014, said the International Air Transport Association (IATA).In a statement today, IATA said, total cargo volumes, however, expanded compared to October 2015 and were higher than the low point in August 2015.This indicated that the decline in cargo demand may be bottoming out, it said. ADVERTISEMENT "The freight performance in November was a mixed bag. Although the headline growth rate fell again, and the global economic outlook remains fragile, it appears that parts of Asia-Pacific are growing again and globally, export orders are looking better," said IATA's Director General and Chief Executive Officer, Tony Tyler.IATA, which represented some 260 airlines comprising 83 per cent of global air traffic, said the negative year-on-year comparisons occurred across all regions with the exception of the Middle East. Tyler said although the downward trend in FTK volumes appeared to be bottoming out, there was a great deal of uncertainty. "The current volatility of stock markets shows how much the health of the global economy - upon which air cargo depends—remains on a knife-edge," he said.ADVERTISEMENT IATA said Asia-Pacific carriers saw a slight fall in FTKs of 1.5 per cent in November compared to November 2014, and capacity expanded 3.2 per cent."Compared to October, volumes expanded by a strong 1.9 per cent," it said.
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It said over recent months, the declining trend in volumes has halted."Better demand in advanced economies is driving export growth in some countries, particularly in Japan," it said.It said European carriers reported weaker demand in November, down two per cent compared to a year ago, and capacity rose 2.2 per cent. "Comparing November to October, the trend was flat, but there are indications that stronger manufacturing and export orders could support air freight demand in the coming months," it said.North American airlines experienced a fall of 3.2 per cent year-on-year and capacity grew 5.8 per cent, IATA said. "The market remains hard to read. A 0.4 per cent expansion compared to October indicates that air cargo could be recovering. But export indicators are poor, making it hard to be optimistic for the coming months," it said. The Middle Eastern carriers, it said, saw demand expand by 5.4 per cent, and capacity roise 9.2 per cent."Although the Middle East led the way as the only market showing positive growth, the rate fell to less than half the 11.9 per cent average growth for the year-to-date as falls in the oil price are impacting some economies in the region," it said. IATA said Latin American airlines reported a decline in demand of 6.4 per cent year-on-year, and capacity expanded 1.9 per cent. "Few positive signals emerged from the markets in this region, with economic and political conditions in Brazil particularly weak."The comparison with October also showed a 1.4 per cent contraction and air cargo demand appears to be mirroring weaker consumer confidence," it said. African carriers experienced a fall in demand of six per cent, and capacity rose by 6.6 per cent, it said."Africa remains one of only three regions with Asia-Pacific and Middle East to record positive year-to-date growth for 2015. Stay up-to-date by following Daily Express’s Telegram channel.
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Demand is holding up despite the underperformance of Nigeria and South Africa," it said.—Bernama