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XPO launches Siemens Climate Solutions distribution system
XPO Logistics has created a UK distribution soluti...

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Emirates SkyCargo still flying high after 18 years
Emirates SkyCargo is celebrating its 18th Annivers...

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DP World backs Royal Challengers Bangalore
DP World have signed a long-term Sponsorship Agree...

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Emirates conducts additional flights for Onam season
Emirates SkyCargo operated several additional carg...

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Caribbean flying in with Covid-19 relief
Caribbean Airlines Cargo has collaborated with the...

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CEVA commences CargoWise rollout
CEVA Logistics has commenced the rollout of CargoW...

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Volumes up as airfreight tracks route to recovery
The gradual route to recovery to pre-COVID market ...

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ParcelHero: Revenge of the high street
There was plenty of good news for Britain’s beleag...

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XPO launches Siemens Climate Solutions distribution system
Emirates SkyCargo still flying high after 18 years...
DP World backs Royal Challengers Bangalore
Emirates conducts additional flights for Onam season
Caribbean flying in with Covid-19 relief
CEVA commences CargoWise rollout
Volumes up as airfreight tracks route to recovery...
Virgin Atlantic Cargo announces new UK-Pakistan routes for...
ParcelHero: Revenge of the high street

 

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October 01, 2015: As it unfolds, the story of air cargo in 2015 threatens to become repetitive: volumes are stagnant and yields keep falling.

August showed a year-over-year (YoY) volume increase of 0.9 percent, whilst month-over-month (MoM) US$-yields fell again, this time by 1.2 percent (NB: Yields in Aug 2014 decreased by 0.8 percent vs July 2014).

Africa and Latin America, the smaller regions in terms of air cargo, bucked the trend, however: Africa was clearly the region-of-the-month, showing a volume increase in air exports of almost 10 percent YoY coupled with a MOM yield drop of 0.2 percent only. Latin America was positively in the news, for the first time in many months. It saw MoM yields increase by 3.5 percent for outgoing and by 1.0 percent for incoming traffic.

Unfortunately, it was one of two regions recording a (small) negative volume growth YoY; the other one was North America.
Falling yields ought to be good news for shippers and forwarders, yet they seem to take the view that – given the present low fuel cost - prices are not coming down fast enough. Airlines may well take a different view, viz. that the worldwide US$-yield drop of 18 percent over the past year properly reflects lower fuel cost, since fuel cost had become one third of their total cost before the roughly 50 percent drop in oil prices in the past year.

Whatever the case, airlines must have welcomed the small MoM US$-yield increase in August in more than half of the interregional markets:
• from Africa to Asia Pacific, Latin America and Europe;
• from Latin America to virtually all destination regions;
• from Europe to Africa and Latin America;
• from the Middle East & South Asia (MESA) to Asia Pacific;
• and from North America to all destinations except MESA and Africa.

Is there any solid good news for airlines at all? There is, but for certain groups of airlines and for certain markets only. We compared the period September 2014-August 2015 (i.e. the most recent 12 months period) with the year 2012, to see the changes in the market position of airlines, grouped by where they come from.

No kudos, of course, for guessing that airlines from MESA fared best: they trumped other carrier groups hands down, increasing their air cargo volume by 31 percent against a worldwide growth of 11 percent. Airlines from Asia Pacific grew by 10 percent, whilst European and North American carriers stayed behind the worldwide average, with growth of 5.0 percent and 0.0 percent respectively.

MESA airlines performed well above average in the markets to and from their region. The same could not be said for the other groups: Asia Pacific airlines as a group were on average, whilst the groups of European airlines (to some degree) and of American airlines (in particular) lagged behind in the markets to and from their own continent.

Markets to North America grew by 16 percent. European carriers figured prominently in this development with a growth of 17 percent, strongly driven by their exceptional increase in business from Asia Pacific to North America. However, in the total business to and from the area Asia Pacific, European airlines missed the boat, so to speak. Interestingly, North American airlines did very well in markets from Europe (+15 percent).

In one of the top growth markets, Asia Pacific to North America and v.v., volumes increased by 32 percent and 19 percent respectively. Yet, the beneficiaries of this growth were all non-American: the bulk of the growth was realized by airlines from Asia Pacific, airlines from Europe and MESA showed the highest percent growth in this market, albeit from a modest base, but airlines from North America actually saw their business shrink in the past three years.

More information: - www.worldacd.com

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