- Global air freight demand increased 14% in March
The International Air Transport Association (IATA) released March 2017 demand growth results for global air freight markets showing a 14 per cent expansion measured in freight tonne kilometres (FTKs) compared to the same period last year.
Meanwhile, African carriers’ posted the largest year-on-year increase in demand of all regions in March 2017 with freight volumes growing 33.5 per cent. Capacity increased by 6.3 per cent over the same time. Demand has been boosted by very strong growth on the trade lanes to and from Asia following an increase in direct services between the continents.
The increase in demand has helped the region’s load factor rise by 6 percentage points compared to March 2016.This was the fastest pace of growth recorded since October 2010. Freight capacity, measured in available freight tonne kilometres (AFTKs), grew by 4.2 per cent year-on-year in March 2017.
March performance contributed to very strong first quarter (Q1) growth in freight volumes. After adjusting for the impact of the leap year in 2016, freight demand in Q1 2017 increased by nearly 11 per cent. Capacity increased by 3.7 per cent over the same period (leap year adjusted).
The strengthening of air freight demand in March is consistent with an uptick in world trade and a six-year high in new export orders. An increase in the shipment of silicon materials typically used in high-value consumer electronics shipped by air, is also likely underpinning a portion of the strong performance.
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