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November 7, 2018
Global air cargo volumes were up 2.0% in September
According to data from the International Air Transport Association (IATA), global air cargo volumes rose 2.0% in September 2018, compared to the same period the year before.
The growth, albeit weak, is being supported by strong consumer confidence, a robust global investment environment and the expansion of international e-commerce. The air cargo sector is, however, being weighed down by a softening of key demand drivers.
"Demand for air cargo grew 2% in September-well below the five year average of 5.1%. Weakening order books and longer delivery times are undercutting the need for air freight in many traditional markets. But there is also some positive news. For example, strong consumer confidence goes hand-in-hand with expanding international e-commerce trade to give air cargo a boost. The bigger message for the sector is the need to modernize processes. There is some progress with the electronic air waybill becoming the default document on enabled trade lanes from 2019. But there is much more that must be done with governments and the supply chain to bring air cargo processes into the modern era," said Alexandre de Juniac, IATA's Director General and CEO.
All regions reported year-on-year demand growth in September 2018, except Africa which contracted. Asia-Pacific airlines saw demand for air freight grow by 1.2% compared to the same period last year.
North American airlines' freight volumes expanded 1.5% compared to the same period a year earlier and European airlines posted a 1.5% increase in freight demand.
Middle Eastern carriers' posted the fastest growth of any region, with an increase in demand of 6.6%. Latin American airlines experienced an increase in freight demand growth of 2.9%. African carriers saw freight demand contract by 2.1%.
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