The International Air Transport Association (IATA) has released figures for global air freight markets revealing that demand, measured in freight tonne kilometers (FTKs), rose 6.8% in November 2016 compared to the same period for 2015. This figures demonstrated more than 2.5 times the average annual monthly growth rate of 2.6% shown over the past decade. Growth in freight capacity, measured in available freight tonne kilometers (AFTKs), slowed to 4.4% for November. An increase in the shipment of silicon materials especially used in high-value consumer electronics and a rise in new export orders can partly explain the positive results. The collapse of the Hanjin Shipping Company in August may have also helped with the increase. Apart from Latin America, airlines in all regions reported an increase in year-on-year demand for November.
Asia-Pacific airlines – demand in freight volumes grew 6.1% in November 2016 compared to the same period in 2015 and capacity grew by 4.0%.
North American carriers – freight volumes expanded 5.6% in November 2016 compared to the same period a year earlier, and capacity increased by 2.6%. Freight traffic across the Atlantic continued to strengthen, increasing by 9.0% in October, helped by a strong dollar.
European airlines – 9.0% year-on-year increase in freight demand in November. This was down compared to the 13.3% growth recorded in October, likely owing to the strike at Lufthansa.
Middle Eastern carriers – freight volumes increased by 7.8% in November 2016, year-on-year. Capacity in the Middle East rose by 5.1% in November.
Latin American airlines – a demand contraction of 1.3% in November 2016, year-on-year. However in seasonally-adjusted terms growth levels are in-line with where they were at the start of 2016. The ‘within South America’ market has been the worst performer, with volumes down nearly 20% compared to the same period in 2015. Capacity also decreased by 1.6% in November.
African carriers’ posted the largest increase in freight demand among the regions in November at 10.9%. Capacity surged by 26.9% on the back of long-haul expansion, especially by Ethiopian Airlines. Freight load factor fell year-on-year for the 19th consecutive month.
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Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada