Geneva - The International Air Transport Association (IATA) released data for global air freight markets showing air cargo volumes (measured in Freight Tonne Kilometers) were down 1.2% in November 2015, compared to November 2014. Total cargo volumes, however, expanded compared to October 2015, and were higher than the low point in August. This indicates that the decline in cargo demand may be bottoming out.
The negative year-on-year comparisons occurred across all regions with the exception of the Middle East. Of the major markets that together comprise more than 80% of total trade, Europe was down 2.0%, North America by 3.2%, and Asia-Pacific by 1.5%. The comparative weakness in these regions was driven largely because the performance in November 2014 was very strong. Latin American and African markets also fell, by 6.4% and 6.0% respectively. The Middle East region posted 5.4% growth.
“The freight performance in November was a mixed bag. Although the headline growth rate fell again, and the global economic outlook remains fragile, it appears that parts of Asia-Pacific are growing again and globally, export orders are looking better. In fact, the downward trend in FTK volumes appears to be bottoming out. But there is a great deal of uncertainty. The current volatility of stock markets shows how much the health of the global economy – upon which air cargo depends - remains on a knife-edge,” said Tony Tyler, IATA’s Director General and CEO.
|Nov 2015 vs. Nov 2014||FTK Growth||AFTK Growth||FLF|
|YTD 2015 vs. YTD 2014||FTK Growth||AFTK Growth||FLF|
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Notes for Editors:
- IATA (International Air Transport Association) represents some 260 airlines comprising 83% of global air traffic.
- All figures are provisional and represent total reporting at time of publication plus estimates for missing data. Historic figures may be revised.
- Explanation of measurement terms:
- FTK: Freight Tonne Kilometers measures actual freight traffic
- AFTK: Available Freight Tonne Kilometers measures available total freight capacity
- FLF: Freight Load Factor is % of AFTKs used
- IATA statistics cover international and domestic scheduled air freight for IATA member and non-member airlines.
- Total freight traffic market shares by region of carriers in terms of FTK are: Asia-Pacific 39.5%, Europe 22.8%, North America 19.0%, Middle East 14.2%, Latin America 2.9%, Africa 1.5%.