In comparison to the same period last year, air cargo volumes in the global market dropped by 5.6 per cent this February. The International Air Transport Association (IATA), which released the data, said that the figures were ‘ heavily skewed’ due to the US port strikes early last year and Lunar New Year falling in Febuary this year.
“The air freight business remains a difficult one. February’s performance continues a weak trend. And there are few factors on the horizon that would see this change substantially. In the absence of an imminent resurgence of demand, the importance of improving the value proposition with modernized processes—the e-freight vision—remains a top priority,” said Tony Tyler, IATA’s director general and CEO.
European airlines’ demand dropped by 2.4 per cent in February. According to the association business surveys of the region, particularly in Germany, ‘do not give an upbeat assessment of prospects in the region’. It said that this remains in line with the trend that has been taking place since the global financial crisis – adding that freight volumes are ‘barely any higher than in 2008’.
The association also found that there was a 6.3 per cent volume in growth when comparing the performance of January/ February 2016 and that of January/February 2014. This is equal to a 3.1 per cent annualised growth trend.
(1) % of industry FTKs in 2015; (2) Year-on-year change in load factor; (3) Load factor level.