Global demand for air cargo may peaked given an easing in September, the International Air Transport Association (IATA) said,
“Demand for air cargo grew by 9.2% in September,” IATA Director General and Chief Executive Officer Alexandre de Juniac said in a statement, adding “while that’s slower than in previous months, it remains stronger than anything we have seen in recent memory,” he added.
IATA said the 9.2% global growth was the slowest pace seen in five months. It was still significantly higher than the five-year average growth of 4.4%.
“But there are signs that this demand spurt may have peaked. So it becomes even more important to reinforce the industry’s competitiveness by accelerating the modernization of its many antiquated processes,” de Juniac said.
The IATA has forecast 7.5% growth in air freight demand for 2017. Airlines in all regions globally reported increased year-on-year demand in September, with the highest growth posted in Asia-Pacific.
“Asia-Pacific airlines saw freight volumes increase by 9.3% in September 2017, compared to the same period last year. Capacity in the region expanded 5.3%. Demand growth was strong on all the major routes to, from, and within Asia-Pacific, consistent with strong export order books for the region’s manufacturer,” the IATA said.
The association noted that despite 8.9 percent growth, strong competition on the Asia-Europe route means that Middle Eastern airlines are not seeing a healthy pick-up in seasonally-adjusted traffic compared to carriers other regions.