IATA’s recent study of the Market of air freight said that there was a 2.7% Year over Year improvement in the world-wide volumes of IATA air cargo in January. After April 2015, IATA said, this is the first growth with such a fast pace.
David Oxley, Senior Economist, IATA said that for the first month of 2016, the reading points up to a good and strong year’s beginning for the business of the freight industry. However, he added, looking forward, there is no presence of any strong demand which points towards a modest growth of volumes of air freight in the entire 2016 ahead for a second year.
A comparison of YOYs from different regions of the world showed a modest growth in air freight for the month of January. For the Mid-East, volumes of air cargo rose 8.8 percent YOY on a global freight market share of 14%. In the Asia-Pacific region, growth was 1.3% YOY with 38.9% share; Europe-2.5% YOY growth with 22.3% share and 2.5% YOY growth in North America with 20.5% share. For Latin America as well as Africa, January cargo volumes faced a downfall of 3.6 percent YOY and 1.4 percent YOY respectively.
The association noted the 7% YOY growth in January in the ATKs industry-wide and said that the rise in capacity amount entering the market exceeds the demand largely and pressurizes revenues as well as yields. The summed up industrial air freight load got in at a percentage of 41.3 in January, down by 1.8 points year-over-year.
The best performance in freight load for the month was by the region Asia-Pacific, 49.8%; Next was 41.6% by Europe, 39.2% by the Mid-East and 34.6% by North America.