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Air Cargo Off to a Solid Start in 2017
Air Cargo Off to a Solid Start in 2017
Air Cargo Off to a Solid Start in 2017
Mar 07, 2017 - The International Air Transport Association released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.9% in January 2017 compared to the year-earlier period. While this was down from the 10% annual growth recorded in December 2016 it still was well above the average annual growth rate of 3% over the past five years. 

Growth in freight capacity, measured in available freight tonne kilometers (AFTKs), slowed to 3.5% in January 2017. 

The continued positive momentum in freight growth into 2017 coincides with a steady rise in new export orders, which reached their highest level in February (latest data available) since March 2011. There has also been an increase in the shipment of silicon materials typically used in high-value consumer electronics shipped by air. The timing of the Lunar New Year (in January 2017) also may have contributed to higher demand in January.

“It’s been a good start to the year for air cargo. Demand growth accelerated in January, bolstered by strengthening export orders. And that outpaced the capacity growth which should be positive for yields. And, longer-term, the entry into force of the Trade Facilitation Agreement (TFA) will cut red tape at the borders for faster, cheaper and easier trade. The onus is now on the industry to seize the opportunity to accelerate the modernization of processes to make air cargo an even more compelling option for shippers,” said Alexandre de Juniac, IATA’s Director General and CEO.

Air freight market detail - January 2017

 

 WORLD SHARE1FTKAFTKFLF (%-PT)​2FLF (LEVEL)​3
Total Market 100.0% 6.9% 3.5% 1.3​% 42.1%
Africa 1.6% 24.3% 6.1% ​3.4% 23.3%
Asia Pacific 37.5% 6.0% 6.6% ​-0.3% ​49.4%
Europe 23.5​% 8.7% 3.3% ​2.2% 44.0%
Latin America 2.8% ​-4.1% -1.4% ​-0.8% ​28.5%
Middle East ​​13.9% 8.4% 3.3% ​2.0% ​42.0%
North America 20.7% 6.1% 0.6​% ​1.8% 35.3​%

(1) % of industry FTKs in 2016 (2) Year-on-year change in load factor (3) Load factor level

Source: IATA
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