Air cargo’s significant demand growth shows the sector is “flying high after years of stagnation”, IATA has said.
Freight demand—measured in freight tonne kilometers (FTKs)—grew by 10.4% in the first half of 2017 compared to the same period last year, latest figures show.
The industry is taking advantage of this momentum to accelerate much-needed process modernization
This was the strongest first half-year performance since air cargo’s rebound from the global financial crisis in 2010—and nearly triple the industry’s average growth rate of 3.9% over the last five years.
The latest monthly results show that demand grew by 11% in June, compared to the year-ago period.
“Air cargo is flying high on the back of a stronger global economy,” said Alexandre de Juniac, IATA’s Director General and CEO.
“That’s great news after many years of stagnation. And, even more importantly, the industry is taking advantage of this momentum to accelerate much-needed process modernization and improve the value it provides to its many customers.”
African carriers posted the fastest growth in freight demand over the first half of 2017, at 25.9%. Demand has been boosted by very strong growth on trade lanes to and from Asia, which increased by nearly 60% in the first five months of 2017.