By Mohammad Shoeb
DOHA: The Middle Eastern airlines witnessed the highest 3.7 percent growth in air freight business in February 2016 compared to February 2015. This was possible at a time when global air freight business continues suffering headwinds and remains a difficult one.
Carrier from the region were able to continue their consistent growth trend despite the statistical noise worldwide. Over the past six months the major carriers in the Middle East region have cut their rate of route expansion, which may account for the relative slowdown in freight volume growth.
The Middle Eastern carriers were closely followed by Latin American ones with a marginal difference at 2.7 percent. The Middle East and Latin America were the only regions in the world where air carriers registered positive growth (year-on-year) in the air cargo business in February 2016.
According to the latest data released by the International Air Transport Association (IATA), which represents some 260 airlines comprising 83 percent of global air traffic, world air freight markets showing air cargo volumes (measured in freight tonne kilometers or FTKs) suffered a 5.6 percent fall in February against the same month last 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 modernised processes — the e-freight vision — remains a top priority,” said Tony Tyler, IATA’s Director-General and CEO.
Providing regional analysis in details, IATA, in a statement said that African airlines’ FTKs declined by 1.7 in February compared to February 2015. The largest economies in the region, Nigeria and South Africa, have suffered from the commodity slump over the past 18 months.
Airlines from the Asia-Pacific region, which carry almost 39 percent of all air freight, saw FTKs contract by 12.4 percent year-on-year in February. While this was the largest drop of any region, it also reflects the region’s carriers having benefited the most from the 2015 US port strike. And the region’s weak trading backdrop was exaggerated by the closure of many factories in Asia for the Lunar New Year Celebration. In February Chinese export values fell 25 percent.
European airlines’ demand fell by 2.4 percent in February. Business surveys of the region, particularly in Germany, do not give an upbeat assessment of prospects in the region. This is in line with the trend since the Global Financial Crisis: European freight volumes are barely any higher than in 2008.
North American airlines saw FTKs fall 4 percent in February compared to February 2015. Looking ahead, the prospects for cargo growth will depend on the balance between a stronger domestic economy supporting import growth and a strong US dollar dampening exports. The Peninsula
By Mohammad Shoeb
DOHA: The Middle Eastern airlines witnessed the highest 3.7 percent growth in air freight business in February 2016 compared to February 2015. This was possible at a time when global air freight business continues suffering headwinds and remains a difficult one.
Carrier from the region were able to continue their consistent growth trend despite the statistical noise worldwide. Over the past six months the major carriers in the Middle East region have cut their rate of route expansion, which may account for the relative slowdown in freight volume growth.
The Middle Eastern carriers were closely followed by Latin American ones with a marginal difference at 2.7 percent. The Middle East and Latin America were the only regions in the world where air carriers registered positive growth (year-on-year) in the air cargo business in February 2016.
According to the latest data released by the International Air Transport Association (IATA), which represents some 260 airlines comprising 83 percent of global air traffic, world air freight markets showing air cargo volumes (measured in freight tonne kilometers or FTKs) suffered a 5.6 percent fall in February against the same month last 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 modernised processes — the e-freight vision — remains a top priority,” said Tony Tyler, IATA’s Director-General and CEO.
Providing regional analysis in details, IATA, in a statement said that African airlines’ FTKs declined by 1.7 in February compared to February 2015. The largest economies in the region, Nigeria and South Africa, have suffered from the commodity slump over the past 18 months.
Airlines from the Asia-Pacific region, which carry almost 39 percent of all air freight, saw FTKs contract by 12.4 percent year-on-year in February. While this was the largest drop of any region, it also reflects the region’s carriers having benefited the most from the 2015 US port strike. And the region’s weak trading backdrop was exaggerated by the closure of many factories in Asia for the Lunar New Year Celebration. In February Chinese export values fell 25 percent.
European airlines’ demand fell by 2.4 percent in February. Business surveys of the region, particularly in Germany, do not give an upbeat assessment of prospects in the region. This is in line with the trend since the Global Financial Crisis: European freight volumes are barely any higher than in 2008.
North American airlines saw FTKs fall 4 percent in February compared to February 2015. Looking ahead, the prospects for cargo growth will depend on the balance between a stronger domestic economy supporting import growth and a strong US dollar dampening exports. The Peninsula
