Aircraft and events. Iata: air freight demand growth eases but remains robust
Cancun, Mexico - "AGM and World Air Transport Summit" takes place from 4-6 June
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 8.5% in April 2017 compared to the year-earlier period. While this was down from the 13.4% year-on-year growth recorded in March 2017, it is well above the average annual growth rate of 3.5% over the past five years. Growth in freight capacity, measured in available freight tonne kilometers (AFTKs), slowed to 3.9% in April 2017. Business confidence indicators remain consistently upbeat, suggesting year-on-year FTK growth will remain robust for the rest of the second quarter. However, there are signs that the cyclical growth peak for air cargo has passed, particularly given that the inventory-to-sales ratio stopped falling at the end of last year. Air cargo often sees a boost in demand at the beginning of an economic upturn as companies look to restock inventories quickly. This tapers as inventories are adjusted to new demand levels. Over the whole year, air freight is headed for a healthy growth rate of 7.5%, supported by strong pharmaceuticals and e-commerce. Regional Performance All regions, with the exception of Latin America, reported year-on-year increases in demand in April 2017. Airlines in Europe and Asia-Pacific accounted for more than 70% of the annual increase in global freight volumes. North American airlines accounted for much of the rest with Middle Eastern and African airlines also making a positive contribution. "IATA AGM": In just a few days, commercial aviation’s center of gravity will shift to Cancun, Mexico, for IATA’s 73rd Annual General Meeting and World Air Transport Summit (4-6 June, 2017).
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