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Miami and IATA agree: air cargo outlook remains strong

GENEVA: October 04, 2017. IATA reports a 12.1 percent year-on-year increase in freight tonne kilometers (FTKs) in August for its members, the fifth time in six months of double-digit gains compared to 2016.

With demand continuing to exceed supply, it's a positive sign for industry load factors, yields and financial performance said IATA economy David Oxley.

MIA hubDespite a 4.2 percent growth in world trade volumes for the first seven months of 2017, IATA has repeated its warning that the peak of the cyclical growth period may be near as the global inventory-to-sales ratio in the U.S. has stopped falling.

Nevertheless "the outlook for airfreight remains strong," says the association and is maintaining its current forecast of 7.5 percent growth for 2017 "even if we are approaching a cyclical peak".

"Air cargo had another stellar performance in August. Demand for air cargo grew at a double-digit rate for the fourth month in a row - outperforming demand for passenger travel for the fourth consecutive month," declared IATA director general and CEO Alexandre de Juniac. "Rapid growth in cargo demand means that cargo capacity is now growing in response to real cargo demand rather than automatically as carriers responded to passenger demand," he explained.

Which is one reason why Miami International Airport was named "Best Freighter Hub In The World" by publishers DVV Group at the September Freighters World Conference.

Judged by a panel of industry experts, MIA won based on two criteria: how it has improved the air cargo supply chain based in and around it; and how it has made investments to improve the airline experience when loading and unloading cargo.

MIA beat out five other finalists to earn the accolade: dnata Dubai World Central (United Arab Emirates); Emirates SkyCentral at Al Maktoum International Airport (UAE); Frankfurt Airport (Germany); Liege Airport (Belgium); and Singapore Changi Airport.

Notwithstanding some weather interruptions, 2017 has been MIA's best year for airfreight with 8.9 percent growth domestically and 3.2 percent internationally for the first eight months.

In year-over-year freight tonnage through June, shipments on Mexican carriers to and from MIA skyrocketed 308 percent while traffic on Middle East carriers rose 114 percent, European carriers surged 11.7 percent and Asian carriers saw an increase of 10 percent.

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