Middle Eastern carriers posted the largest increase in freight volumes of all regions for the 16th consecutive month in June, up 8% year on year, while capacity increased by 8.7%.
Although the leader in market growth, the Middle East’s international freight growth rate (6.5%) for the first six months of 2016 is less than half the 14.3% average growth for the same period in 2015.
The International Air Transport Association (IATA) released data for global air freight demand in June 2016 showing a rise in freight tonne kilometers (FTK) of 4.3% year-on-year.
This was the fastest pace of growth in 14 months.
Freight capacity measured in available freight tonne kilometers (AFTKs) increased by 4.9% year-on-year, keeping yields under downward pressure.
Freight demand increased year-on-year in June across all regions with the exception of Latin America which recorded a 9.8% decrease, compared to the same period last year.
The Middle East and Europe posted the fastest demand growth in June with year-on-year increases of 8% and 5.1% respectively.
“June saw an improvement in demand for air freight. That’s good news. However, we cannot read too much into one month’s performance. Air cargo markets have been in the doldrums for several years during which there were several false starts on indications for improvement. We will continue watching developments closely, keeping in mind that the air freight business environment is fragile. Global economic growth remains sluggish, world trade volumes continue to trend downwards and the industry faces heightened uncertainty in the aftermath of the Brexit vote,” said Tony Tyler, IATA’s director general and CEO.