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Africa tops airfreight demand in May

GENEVA: July 05, 2017. IATA says the global airfreight market rose 12.7 percent in May compared to the same month last year, as capacity rose 5.2 percent overall.

Ethiopian Cargo  Logistics The increase compares to 8.7 percent in April and is more than three times higher than the five-year average growth rate of 3.8 percent.

Despite expectations of a further 8.0 percent increase in the third quarter this year, IATA notes the rise of the global inventory-to-sales ratio suggests the cyclical growth period for air cargo may have peaked: "This indicates that the period when companies look to re-stock inventories quickly, which often gives air cargo a boost, has ended," it said.

"May was another good month for air cargo. Demand growth accelerated, bolstered by strong export orders. And that outpaced capacity growth which should be positive for yields," declared IATA director general and CEO Alexandre de Juniac.

"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," he added.

All regions, with the exception of Latin America, reported year-on-year double-digit increases in demand during May with African carriers posting a 27.6 percent rise in volumes as capacity rose 14.7 percent.

European airlines produced a 15.0 percent upturn in airfreight traffic as capacity increased 5.7 percent; North American carriers posted a 13.9 percent rise in volumes and a capacity increase of 4.1 percent; and Asia-Pacific airlines saw volumes rise 11.3 percent and capacity 6.2 percent.

Air cargo volume among Middle East airlines grew 10.2 percent in May as capacity rose 1.7 percent; and Latin American carriers experienced a 6.7 percent increase in demand as capacity rose 7.1 percent.

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