December 5, 2018
Global air freight volumes were up 3.1% in October
According to data from the International Air Transport Association (IATA), global air cargo volumes rose 3.1% in October 2018, compared to the same period the year before.
IATA says growing international e-commerce and an upturn in the global investment cycle are supporting the growth. However, demand continues to be negatively impacted a contraction in export order books in all major exporting nations in October, longer supplier delivery times in Asia and Europe and weakened consumer confidence compared to very high levels at the beginning of 2018.
"Cargo is a tough business, but we can be cautiously optimistic as we approach the end of 2018. Slow but steady growth continues despite trade tensions. The growth of e-commerce is more than making up for sluggishness in more traditional markets. And yields are strengthening in the traditionally busy fourth quarter. We must be conscious of the economic headwinds, but the industry looks set to bring the year to a close on a positive note," said Alexandre de Juniac, IATA's Director General and CEO.
All regions reported year-on-year demand growth in October 2018, except Africa which contracted.
North American airlines posted the fastest growth of any region, with an increase in demand of 6.6% compared to the same period a year earlier.
European airlines experienced a 1.4% increase in freight demand compared to the same period a year earlier and Asia-Pacific airlines saw demand for air freight grow by 1.9%.