CAPE TOWN - Africa saw its biggest ever year-on-year increase with a 17.5% in air freight demand during November 2017.
According to the International Air Transport Association (IATA) recently released data shows that the global air freight markets - measured in freight tonne kilometers (FTKs), climbed 8.8% in November 2017.
IATA’s director-general and CEO, Alexandre de Juniac said 2017 was the strongest year for air cargo since 2010.
Asia-Pacific airlines freight volumes increased by 8.1% and capacity expanded by 1.2% in November, compared to the same period last year. Meanwhile, the North American carriers posted an increase of 9.6% in freight volumes, while capacity increased 3.9%.
A statement issued on behalf of IATA said that the strength of the US economy and the US dollar have improved the inbound freight market in recent years.The European airlines have recorded a 9.9% increase in freight demand and a capacity increase of 4.7%.
Middle Eastern carriers’ year-on-year freight volumes increased 6.6% and capacity increased 3.1%. Carriers in the region have recorded a 6.6% growth in international freight volumes. This is said to be the slowest regional year-on-year growth for the second time in three months.
However, seasonally-adjusted international freight volumes have continued to trend upwards at a rate of 8-10% over the past six months.
Latin American airlines experienced a growth in demand of 9.4% and a capacity increase of 11.1% compared to 2016.
Africa's international freight volumes increased by 17.8%, a decline from 27.2% in October 2017.
- BUSINESS REPORT ONLINE