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Thursday, 4 May 2017

(The Star) IATA: Global air freight demand grew 14% in March

KUALA LUMPUR: The global air freight market for March 2017 increased 14% in freight tonne kilometres (FTKs) compared with the corresponding period last year, the fastest growth recorded since October 2010, said the International Air Transport Association (IATA).

After adjusting for the 2016”s leap year impact, freight demand increased nearly 11%, with capacity rising 3.7% over the same period, said IATA in a statement yesterday.

Meanwhile, freight capacity, measured in available freight tonne kilometres (AFTKs), grew 4.2% year-on-year (y-o-y) in March 2017.

The strengthening of air freight demand in March was consistent with an uptick in world trade and a six-year high in new export orders, it said.

IATA added that an increase in the shipment of silicon materials, typically used in high-value consumer electronics, had likely contributed to the strong performance.

IATA director-general and chief executive officer Alexandre de Juniac said the industry was becoming more optimistic, as the business stabilised after many years in the doldrums.

“There is, however, still much lost ground to recover while facing the dual headwinds of rising fuel and labour costs. – Bernama