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January 31, 2018
Global air cargo increased 9% in 2017 according to IATA
According to data from the International Air Transport Association (IATA), global air cargo volumes grew by 9.0% in 2017, more than double the 3.6% annual growth recorded in 2016.
IATA says air cargo's strong performance in 2017 was sealed by a solid result in December, with a year-on-year demand growth of 5.7%. It was less than half the annual growth rate seen during the middle of 2017 but still well above the five-year average of 4.7%.
Airlines in all regions reported an increase in demand in December. North American airlines saw freight demand increase by 5.4% and Asia-Pacific carriers saw demand in freight volumes grow 5.6%.
European airlines posted a 5.0% year-on-year increase in freight demand in December and Middle Eastern carriers' freight volumes increased 6.3%.
Latin American airlines experienced a growth in demand of 4.9% and African carriers' posted the fastest growth in year-on-year freight volumes, up 15.6%.
"Air cargo had its strongest performance since the rebound from the global financial crisis in 2010," said Alexandre de Juniac, IATA's Director General and CEO. "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."
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