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September 14, 2017
Global air cargo volumes were up eleven percent in July
According to data from the International Air Transport Association (IATA), global air cargo volumes grew by 11.4% in July 2017 compared to the year-earlier period. This was the fourth time in five months that double-digit annual air freight growth was recorded.
IATA notes that the robust growth in air cargo demand is consistent with an uptick in global trade, rising export orders and upbeat business confidence indicators, but warns that demand growth for air freight may be nearing a peak. The Association says air cargo often sees a boost in demand at the beginning of an economic upturn as companies look to restock inventories quickly. This tapers as inventories are adjusted to new demand levels.
All regions posted robust freight growth in July 2017. North American carriers posted an increase of 11.9% and European airlines saw a 12.1% increase. Asia-Pacific airlines' freight volumes grew 11% and Middle Eastern carriers' year-on-year freight volumes increased 9.3%. Latin American airlines experienced a growth in demand of 5.8% and African carriers posted the largest year-on-year increase in demand of all regions in July with freight volumes growing 33.7%.
"July was a strong month for air cargo with double-digit growth," said Alexandre de Juniac, IATA's Director General and CEO. "And for the third consecutive month demand for air freight grew at a faster pace than demand for air travel. While the outlook for the rest of the year remains positive, there are signs that the cyclical growth period may be nearing a peak."
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