Monday, June 17, 2024
IATA: Air cargo grows 8.2% – the strongest in 18 months

IATA: Air cargo grows 8.2% – the strongest in 18 months

European cargo growth led the way in October with a 13.4 per cent surge, driven by German exports and a weak euro, boosting worldwide volumes by 8.2 per cent, IATA says.

The International Air Transport Association (IATA) says freight tonne kilometre growth (FTK) was the strongest for 18 months, helped by the collapse of the Hanjin Shipping Company in August and companies having exercised caution earlier this year. European freight was the strongest of all regions, growing 13.4 per cent due to strong German exports and the weakness of the euro.

The association director general and chief executive officer, Alexandre de Juniac says global trade remains weak but there are encouraging signs. “The peak has been stronger than expected. And purchasing managers are reporting a pick-up in new export orders. So we will enter 2017 propelled by some much-needed positive momentum.”

IATA also says market shifts such as the growth of cross-border e-commerce and pharmaceuticals is helping also helping growth, along with popular sales events including Black Friday and Cyber Monday.

De Juniac says: “The drivers of stronger growth are sending a major signal for change to the air cargo industry. Whether it is e-commerce or the trade in pharmaceuticals, shippers are demanding more than current paper processes can support. The shift to e-freight is more critical than ever.”

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