Air-freight volumes level off in September

“The story behind September’s performance is regional. The levelling-off of global volumes was a result of the growth rate in Europe and the Middle East moderating after recent acceleration, while Asia-Pacific airlines saw a deepening of the market weakness,” Tony Tyler, director-general and CEO of IATA, said yesterday.

While freight tonne kilometres (FTK) grew by 0.5 per cent year-on-year, this is slower than the 3.4 per cent recorded for August. Air cargo volumes are at a 25-month high. Steady increases in the market since April have been supported by improvements in business conditions. 

”At a global level, the September results are aligned with our expectations for an improvement towards the end of the year. All indicators still point to strengthening business confidence as we approach the final quarter. That’s cause for cautious optimism. 

“But the persistent cargo weakness when compared to the strength of passenger markets is a signal for the industry to work at improving its value proposition with programmes such as e-freight,” he said.

September’s performance was heavily influenced by a moderation of freight growth in the Middle East, which has carried much of the rises of recent months. The Middle East reported growth of 9.9 per cent.

Asia-Pacific carriers continue to see weakness in air freight demand. FTKs fell 3.1 per cent, deepening the contraction so far this year to 2.1 per cent. A positive sign for the future is that the pressure from regional economic weakness appears to be easing. In particular, China’s GDP growth has picked up slightly. Capacity grew 1.3 per cent, leaving the load factor at 55.5 per cent.

European carriers grew 1.4 per cent, down on August’s robust 3.4-per-cent rise. Benefiting from the improvement in the European economy, airlines in the region have carried about 30 per cent of the rise in global volumes since the second quarter, and FTKs are now the highest since mid-2011.