African carriers see 0.3 percent increase in air cargo demand in May
July 07, 2016: African carriers saw freight growth in May 2016 of 0.3 percent compared to the same period last year, according to the report released by the International Air Transport Association (IATA).
African airlines’ capacity increased by 22.2 percent year-on-year on the back of long-haul expansion continuing the trend seen since December 2015.
Air freight demand measured in freight tonne kilometers (FTKs) slowed in May with growth falling to 0.9 percent year-on-year, says International Air Transport Association (IATA).
Yields remained pressured as freight capacity measured in available freight tonne kilometers (AFTKs) increased by 4.9 percent year-on-year.
Freight demand decreased or flat lined in May across all regions with the exception of Europe and the Middle East. These regions recorded growth in air cargo volumes of 4.5 percent and 3.2 percent, respectively, in May, compared to the same period last year.
Broad weakness in world trade volumes, which have largely tracked sideways since the end of 2014, accounts for about 80 percent of air freight’s sluggish performance.
"Global trade has basically moved sideways since the end of 2014 taking air cargo with it. Hopes for a stronger 2016 are fading as economic and political uncertainty increases. Air cargo is vital to the global economy. But the business environment is extremely difficult and there are few signs of any immediate relief," said Tony Tyler, director general and CEO, IATA.