Courtney Agencies Ltd. provides a weekly industry news update to its clients.
Please click here to receive this update by email.
July 4, 2018
Global air cargo volumes were up 4.2 percent in May
According to data from the International Air Transport Association (IATA), global air cargo volumes rose 4.2% in May 2018, compared to the same month last year. This was slightly down from the 5.2% growth recorded in April.
"We expect air cargo demand to grow by a modest 4.0% in 2018. That's an uptick from a very weak start to the year. But headwinds are strengthening with growing friction among governments on trade. We still expect demand to grow, but those expectations are dampened with each new tariff introduced. Experience tells us that trade wars, in the long run, only produce losers," said Alexandre de Juniac, IATA's Director General and CEO.
Airlines in all regions except Africa reported an increase in growth in May. African carriers saw freight demand contract 2.0%. This mainly reflects a softening in demand on markets to/from Asia and the Middle East.
North American airlines' freight volumes expanded 5.9% compared to the same period a year earlier and European airlines posted a 2.3% increase in their freight volumes.
Asia-Pacific airlines saw freight demand increase in May to grow 4.9% compared to the same period last year. Middle Eastern carriers' freight volumes grew 2.4%, and Latin American airlines experienced growth in demand of 11.4%
|Copyright 2006. All Rights Reserved.|