The Middle East carriers' year-on-year freight volumes increased 10.2 in per cent in May 2017 from the same period a year earlier, on the back of strong demand, consistent export flows and growth in world trade, according to the latest figures from the International Air Transport Association (Iata).
“Demand between the Middle East and Europe remains strong, increasing 19 per cent so far this year but traffic to Asia has weakened, growing by just over 1 per cent,” the group said. “The recent swings in the growth rate appear to be mainly a reflection of the more volatile monthly data last year… Seasonally-adjusted freight volumes maintained their upward trend.”
The region accounts for about 14 per cent of the global market behind North America, Europe and Asia Pacific.
All regions reported double-digit increases in demand in May , except for Latin America.
African carriers' posted the largest annual increase in demand of all regions in May with freight volumes growing 27.6 per cent on the back of strong growth on the trade lanes to and from Asia which have soared by nearly 57 per cent so far this year.
European airlines saw a 15 per cent increase in their freight volumes for the same period as a result of strong demand between Europe and Asia and the weaker euro. North American carriers followed with an increase of about 14 per cent, while Asia-Pacific operators reported a rise of 11.3 per cent as a result of strong international traffic between Asia and Europe.
Latin American airlines experienced a growth in demand of 6.7 per cent in May compared with the same period in 2016. The global air freight average increased about 13 per cent.
“May was another good month for air cargo. Demand growth accelerated, bolstered by strong export orders,” said Alexandre de Juniac, Iata’s director general and CEO. “That outpaced capacity growth which should be positive for yields. But the industry can’t afford to rest on its laurels. With indications that the cyclical growth period may have peaked, the onus is on the industry to improve its value proposition by accelerating process modernization and enhancing customer-centricity.”
Asia-Pacific airlines' freight volumes expanded 11.3 per cent in May compared with the same period a year earlier and capacity increased by 6.2 per cent. Demand growth has been strongest, between 13-15 per cent, on international routes within Asia as well as between Asia and Europe. Seasonally-adjusted volumes are now 3 per cent above the volumes reached following the 2010 post-global financial crisis bounce-back.
