Middle Eastern carriers resumed their strong growth trend in air freight with freight tonne kilometers (FTK) expanding 8.8 per cent in January this year, compared to the same period last year.

The The freight load factor (FLF) was broadly stable, declining just 0.3 percentage points to 39.2 per cent. The region’s airlines continue to enjoy strong growth, helped by large-scale network and fleet expansion, said an International Air Transport Association (Iata) report.

Global air freight markets in January showed a rise in FTK of 2.7 per cent compared to the same period last year.

This continues the improving trend witnessed toward the end of 2015, and is the fastest pace since April of last year. The freight load factor fell 1.8 percentage points, however, indicating that yields are likely to come under further pressure.

Total FTKs in January surpassed the previous all-time peak reached in February 2015.

All regions except the smallest markets of Africa and Latin America expanded in January, but all regions reported declines in the FLF. Despite this good start, the underlying weak trade performance makes it unlikely that growth will accelerate significantly in the coming months.   

“It is good news that volumes are growing, but yields and revenues are still under tremendous pressure. Air cargo plays a vital role in our globalized and fast-paced world in which trade is the foundation for long-term prosperity. Removing barriers to trade is a win-win. It will shore-up the foundations for stronger economies. And an improved business environment for air cargo will help facilitate much needed technology and process investments so that the industry will be an even stronger catalyst for growth and development. A third of the value of goods traded internationally are delivered by air. But the value of air cargo goes much deeper in the prosperity that it creates in supporting jobs and economic opportunity,” said Tony Tyler, Iata’s director general and CEO. – TradeArabia News Service