GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Travel and Tourism

 
  Share

Dubai, UAE, January 14, 2018:  The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), climbed 8.8% in November 2017 compared to the year-earlier period. This was an increase from the 5.8% annual growth recorded in October 2017. Despite indicators pointing to air cargo having passed a cyclical growth peak, demand remains strong.

Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 4.0% year-on-year in November. This was the 16th consecutive month in which demand growth outstripped capacity growth, which is positive for industry load factors, yields, and financial performance.

The uptick in freight growth coincides with the traditional period of strong demand seen in the fourth quarter. November's robust performance puts the air cargo industry on track to achieve its strongest operational and financial performance since the post-global financial crisis rebound in 2010. The Purchasing Managers Index (PMI) for manufacturing and export orders, which has tracked sideways for much of 2017, reached a seven-year high in the fourth quarter signifying that growth is carrying momentum into 2018. 

'Air freight demand remains robust. November showed 8.8% year-on-year growth, keeping up the momentum that will make 2017 the strongest year for air cargo since 2010. And there are several indicators that 2018 will be a good year as well. In particular, buoyant consumer confidence, the growth of international e-commerce and the broad-based global economic upturn are cause for optimism as we head into the New Year,” said Alexandre de Juniac, IATA's Director General and CEO. 

 Regional Performance

Airlines in all regions reported an increase in total year-on-year demand in November. 

Asia-Pacific airlines saw freight volumes increase by 8.1% and capacity expand by 1.2% in November, compared to the same period last year. The region's manufacturers continue to enjoy buoyant export order books. And the major exporters in China and Japan are reporting rising demand supported in part by a pick-up in economic activity in Europe and a continued solid performance from the US. This is expected to support demand into the New Year. 
North American carriers posted an increase in freight volumes of 9.6% for November. Capacity increased 3.9%. The strength of the US economy and the US dollar have improved the inbound freight market in recent years. Data from the US Census Bureau shows an 11.6% year-on-year increase in air imports to the US in the first ten months of 2017, compared to a slower rise in exports of 6.7%. The recently agreed US tax reform bill may also help to support freight volumes in the period ahead. 

European airlines posted a 9.9% increase in freight demand in November and a capacity increase of 4.7%. Concerns that the recent strengthening of the euro might have affected the region's exporters have not materialized. Europe's manufacturers' export orders are growing at their fastest pace on record. This is expected to support demand into the New Year.

Middle Eastern carriers' year-on-year freight volumes increased 6.6% in November and capacity increased 3.1%. During the same period carriers in the region posted 6.6% growth in international freight volumes - the slowest regional year-on-year growth for the second time in three months. However, seasonally-adjusted international freight volumes have continued to trend upwards at a rate of 8-10% over the past six months. Notably, freight load factors have increased substantially on routes to and from the Middle East to North America, indicating a fall in capacity flown on the route. 

Latin American airlines experienced a growth in demand of 9.4% in November and a capacity increase of 11.1% compared to the same period in 2016. International freight volumes rose by 9.6% over the same period. This is well ahead of the five-year average growth rate of 0.9%. The pick-up in demand comes alongside signs of economic recovery in the region's largest economy, Brazil. Seasonally-adjusted international freight volumes are now back to the levels seen at the end of 2014. 

African carriers posted the largest year-on-year increase in demand of all regions in November, with freight volumes rising 17.5%. Capacity increased 24%. During the same period international freight volumes grew by 17.8%, a deceleration from 27.2% in October. However, this still was the 13th month of double-digit increases. Demand has been boosted by very strong growth in Africa-Asia trade which increased by more than 67% in the first ten months of the year. 



Posted by : GoDubai Editorial Team
Viewed 10071 times
Posted on : Sunday, January 14, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Emirates Resumes Service to Sabiha Gokcen Airport; Offering Flights to Two Points in Istanbul
Next Story : British Airways launches sale across all cabins for travel until December 12, 2018
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Get Ready for Party Season with Lottie's new make-up hits
Festive Gift Sets from Bubble T
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
New 1948 Seamaster Watches Join the Ranks'
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
Dubai Shopping Festival Wednesday Specials at The Smile Bar
Extra Fort Automatic continues to set style standards
CITIZEN's “#MyBetterStartsNow” campaign seeks out UAE's inspired and driven indi...
Model of the Year Takes Camo to Catwalk Level
Johnny Depp Wears a Corum Bubble Skull
Interview with Asil Attar, CEO of Al Yasra Fashion
Pure Gold Jewellers celebrates the festive season with new diamond necklace desi...
DKNY Launches (Limited Edition) Holiday 2018 Collection
TIPS & TOES: January 2019 Special Offers
Winter wool Christmas must- haves
Samsung Galaxy A9 – Designed to capture the world in its fullest
Chic and Stylish Wraps with a 3 in 1 effortless concept
Santa is Coming to Town!
Michael Kors Collection Transeason 2019 Press Presentation
Marni Introduces Marni Rothko, A 7-layer Acetate Frame With a Vivid, New Color ...
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
UAE students win top awards at international math competition in Malaysia
Enjoy 11 exciting new street entertainment shows at BOLLYWOOD PARKS™ Dubai
'Introducing the GUESS Jeans Fall 2018 Collection'
Over 80 developers showcase top projects at Indian Property Show in Dubai
Get Party Ready with Champion Cleaners
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Ring in the New Year With Four Firework Shows at Dubai Festival City Mall
Puma and Hasbro Announce New Collaboration
Cosy, chic coats from Marks & Spencer
Facebook Watch: What We've Built & What's Ahead
Nine winners honored by DQG for their innovative ideas at the 10th Global Contin...
SAVEX 11 TO 15 DECEMBER 2018
Over 2,000 Cyclists Took Part in the Cycle Challenge of the Year
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
His Highness Sheikh Saud discusses collaboration with British Consul-General And...
Listen to the Autism Beat Gala Dinner at Atlantis - The Palm
Arla Foods launches initiative with UAE Ministry of Education to promote healthi...
CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE
Bawabat Al Sharq Mall is all set to welcome an exciting festive season with 'Wi...
Julphar to Launch Wearable Insulin Delivery Device in GCC
It's a Wrap! The Second JLT Restaurant Awards Conclude with a Glitzy Ceremony At...
Joe's Backyard Opens at the Holiday Inn, Dubai Festival City
Young Emirati Champion Rashid Al Dhaheri Powers Ahead to Stunning Victory at the...
Dubai Islamic Bank triumphs at Islamic Business and Finance Awards 2018