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Cape Town - African airline carriers show an increase in demand of 7.2%, higher than the global growth trend of 2.9% for 2014.
The International Air Transport Association (Iata) released data for global air freight markets on Wednesday. Statistics show that global air cargo growth accelerated in May and have since stabilised. Growth was 4.7%. This is an increase from the 3.8% year-on-year growth rate recorded in April.
The weak growth statistics seen in the beginning months of the year for major African economies appear to be dissipating. This will provide support for increased air freight demand.
It is expected there will be stronger performance in the coming months, now that rates are stabilising.
In Latin America, demand for carriers increased by 4.9% due to trade growth, presumably associated with the Fifa World Cup.
The Middle East shows the highest growth rate of 9.3%. This comes with improved Chinese manufacturing activities to match export demand.
Other areas like Asia-Pacific recorded a strong increase of 5.3%. European airlines expanded by 3.4% and North American carriers’ performance were relatively slow, at 2.4%.
According to Iata director general Tony Tyler global air cargo growth appears to be stabilising, after “months of wavering conditions”. The sector still has to work on restoring its competitiveness to increase trade growth.
Air cargo competitors are aiming to innovate aggressively, cut shipping times and improve efficiency. In a bid for air cargo options to remain competitive, there could be attempts to shorten future average shipping by 48 hours. The current average is 6.5 days, according to Tyler.
- Fin24
The International Air Transport Association (Iata) released data for global air freight markets on Wednesday. Statistics show that global air cargo growth accelerated in May and have since stabilised. Growth was 4.7%. This is an increase from the 3.8% year-on-year growth rate recorded in April.
The weak growth statistics seen in the beginning months of the year for major African economies appear to be dissipating. This will provide support for increased air freight demand.
It is expected there will be stronger performance in the coming months, now that rates are stabilising.
In Latin America, demand for carriers increased by 4.9% due to trade growth, presumably associated with the Fifa World Cup.
The Middle East shows the highest growth rate of 9.3%. This comes with improved Chinese manufacturing activities to match export demand.
Other areas like Asia-Pacific recorded a strong increase of 5.3%. European airlines expanded by 3.4% and North American carriers’ performance were relatively slow, at 2.4%.
According to Iata director general Tony Tyler global air cargo growth appears to be stabilising, after “months of wavering conditions”. The sector still has to work on restoring its competitiveness to increase trade growth.
Air cargo competitors are aiming to innovate aggressively, cut shipping times and improve efficiency. In a bid for air cargo options to remain competitive, there could be attempts to shorten future average shipping by 48 hours. The current average is 6.5 days, according to Tyler.
- Fin24
