IATA: “Air Freight Demand up 9% in 2017, Strongest Growth Since 2010”

The International Air Transport Association (IATA) has reported that global air freight demand, measured in freight tonne kilometres (FTKs), grew by 9% in 2017.

This was more than double the 3.6% annual growth recorded in 2016.

Meanwhile, freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 3.0% in 2017. This was the slowest annual capacity growth seen since 2012 -and it meant that demand growth outpaced capacity growth by a factor of three.

 

In a statement issued yesterday (21 January), Alexandre de Juniac, IATA’s Director General and CEO, said: “Air cargo had its strongest performance since the rebound from the global financial crisis in 2010. Demand grew by 9.0%. That outpaced the industry-wide growth in both cargo capacity and in passenger demand. We saw improvements in load factors, yields and revenues. Air cargo is still a very tough and competitive business, but the developments in 2017 were the most positive that we have seen in a very long time.

“The outlook for air freight in 2018 is optimistic. Consumer confidence is buoyant. And we see growing strength in international e-commerce and the transport of time- and temperature-sensitive goods such as pharmaceuticals. Overall the pace of growth is expected to slow from the exceptional 9.0% of this year. But we still expect a very healthy 4.5% expansion of demand in 2018. Challenges remain, including the need for industry-wide evolution to more efficient processes. That will help improve customer satisfaction and capture market share as the expectations of shippers and consumers grow ever more demanding,” said de Juniac

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