Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Air Cargo Continues Moderate Recovery  Join our daily free Newsletter

MENAFN Press - 09/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) The International Air Transport Association (IATA) released figures showing a 6.1% growth in demand (measured in freight tonne kilometers or FTK) for air freight in November 2013 over the same month in the previous year. November's performance is an improvement on the 4.4% year-on-year demand expansion recorded in October. This continues an improvement trend in the weak air cargo markets which has been developing over 2013



All regions reported growth except for Latin America and Africa. The strongest performing region was the Middle East where carriers reported a 16.5% improvement. Significantly, Asia-Pacific carriers, who account for some 40% of the market, reported 4.9% growth, more than doubling the 1.8% growth of October



Healthy demand coupled with a slower expansion in capacity helped to improve the average load factor to 49.2% which is 0.7 percentage points above the previous November



"The November results are encouraging-particularly for carriers in the Asia-Pacific region. This good news is largely being driven by improving economic prospects in China along with an overall boost on Asian trade routes. The uptick is a welcome development in a weak performing market. Overall volumes, when adjusted for seasonality, are still below the peaks reached in 2010 and 2011," said Tony Tyler, IATA's Director General and CEO.



Regional Performanc



Regional differences in demand growth remain broad. Carriers in Latin America and Africa reported a slight year-on-year contraction as airlines in the Middle East continue to report double digit growth.



Asia-Pacific carriers saw cargo demand grow by 4.9% in November compared to November 2012. This is up from the 1.8% year-on-year growth recorded in October. The expansion was fueled by a rebound in Asian trade volumes and the improving Chinese economy. Stronger demand for Asian manufactured consumer goods in North America and Europe has also supported the rise in Asian trade and air freight volumes. The jump in demand among the Asia-Pacific carriers“which account for some 40% of the global market“is a good indicator for broader air freight improvements in the coming months.



European airlines reported a demand expansion of 8.0% inNovember compared to a year earlier. The steady improvement in recent months has come as Europe pulled away from economic contraction in 2013. The recovery in the Eurozone however is likely to remain slow and fragile and the growth in the region has proved to be uneven across countries




North American carriers reported a 2.5% year-on-year improvement in freight demand. This is down from a rise of 5.3% in October but a definite improvement over the year-to-date performance, which is a contraction of 0.4% compared to the first 11 months of 2012. Business activity indicators in the manufacturing sector have been improving in recent months, recovering from any adverse impacts of the government shutdown in October. Nonetheless, the outlook remains challenging - rates of expansion are considerably lower than they were at the beginning of 2013.



Middle Eastern carriers reported the strongest performance with a 16.5% year-on-year growth in demand for November 2013 over the previous year. Carriers in the Middle East have benefited from improvements in advanced economies, including better demand in Europe, as well as solid economic and trade growth in the Gulf area. The trend is likely to continue with indicators showing record high export orders in the United Arab Emirates, which bodes well for continued growth in the region's trade volumes



Latin American airlines experienced a slight year-on-year decline in freight demand of 0.1% in November, following a 2.0% increase in October. However, the growth rate of 3.2% during the first 11 months of 2013 is the second-fastest among the regions. Air freight demand has been supported by solid growth in Latin American trade volumes, but contained by the sluggish performance of Brazil, the region's largest market.



African carriers registered a contraction of 1.2% for freight demand in November compared to a year ago. After a solid start to the year, growth in air freight carried by African airlines weakened from the middle of 2013. Although the region's trade volumes continue to increase and local economies are experiencing fast growth, competition from airlines outside the region is intense and the lack of adequate infrastructure and political stability continue to hinder growth potential.


About IATA
IATA (International Air Transport Association) represents some 240 airlines comprising 84% of global air traffic. You can follow us at http://twitter.com/iata2press for news specially catered for the media.Explanation of measurement terms: oFTK: Freight Tonne Kilometers measures actual freight traffic oAFTK: Available Freight Tonne Kilometers measures available total freight capacity oFLF: Freight Load Factor is % of AFTKs usedIATA statistics cover international and domestic scheduled air freight for IATA member and non-member airlines. All figures are provisional and represent total reporting at time of publication plus estimates for missing data. Historic figures may be revised. Total freight traffic market shares by region of carriers in terms of FTK are: Asia-Pacific 39.2%, Europe 23.8%, North America 20.2%, Middle East 12.2%, Latin America 3.2%, Africa 1.5%.

 


MENAFN Press




  MENA News Headlines
 Apr 30 2016 - Qatar's MPHC net profit up 83 percent in Q1MENAFN
(MENAFN) Mesaieed Petrochemical Holding Co. posted net profit of USD 58.28mn for the first quarter of this year, an increase of 83 percent.Furthermore, the increase was attributed to growth sales ...

 Apr 30 2016 - Aaml Co. net profit jumps 33.7 percent in Q1MENAFN
(MENAFN) Aamal firm, one of the GCC's fastest growing firms, proclaimed net profit of USD 42.18mn for Q1 of this year, a jump of 33.7 percent.Additionally, group profit were up 6.9 percent to USD ...

 Apr 30 2016 - Egypt, UAE to discuss relations in real estate projectsMENAFN
(MENAFN)Egypt and UAE will discuss real estate investment projects that UAE seeks to participate in.Moreover, these projects involve the New Administrative Capital, as well as housing projects in ...

 Apr 29 2016 - Omani power firm to build vital power facilityMENAFN
(MENAFN) Omani Musandam Power Company SAOC (MPC) will construct the Musandam Independent Power Plant (Musandam IPP) in the Musandam Governorate.As a high level official stated, the firm's strategy ...

 Apr 29 2016 - Saudi, French bilateral trade to reach USD13.6bMENAFN
(MENAFN) The Saudi-French Business Opportunities Forum taking place in Saudi Arabia delivers the finest stage to advance parts of mutual collaboration in many new areas.The two countries enjoy great ...

 Apr 29 2016 - KSA continues to prioritize low spendingMENAFN
(MENAFN) Saudi plans to return unspent money which was allocated in this year's budget for the purpose of cutting waste as state revenues weakens due to low oil prices.In the recent past, government ...

 Apr 29 2016 - Qatar- El Jaish aim to dethrone LekhwiyaThe Peninsula
(MENAFN - The Peninsula) Lekhwiya players lift the Qatar Cup trophy in this May 2 2015 file picture. Doha: El Jaish will be looking for a repeat of their 2014 Qatar Cup success when they ...

 Apr 29 2016 - Qatar Cup Trophy Tour stops at OoredooThe Peninsula
(MENAFN - The Peninsula) Doha: The Qatar Cup tour made its final stop at Ooredoo the official telecom partner of the Qatar Cup 2016. Staff and management took an opportunity to take photos and ...

 Apr 29 2016 - Al Rayyan rally to win Qatar Cup titleThe Peninsula
(MENAFN - The Peninsula) Al Rayyan SC players and officials celebrate while receiving the Qatar Cup after they beat El Jaish SC 21-25 25-18 25-17 32-34 18-16 in the final played at Ali Bin Hamad Al ...

 Apr 29 2016 - Qatar- Emir Cup: Al Kharaitiyat Al Gharafa earn thrilling wins to advanceThe Peninsula
(MENAFN - The Peninsula) Al Sailiya’s Abdurahman Al Harazi (left) celebrates after scoring the first goal for his team during their Emir Cup third round match against Al Wakrah SC at Al Arabi ...

 Apr 29 2016 - Steinmeier doubts Trump's 'America first' planThe Peninsula
(MENAFN - The Peninsula) German Foreign Minister Frank-Walter Steinmeier gestures during a joint press conference with Portuguese Foreign Minister Augusto Santos Silva (not seen) after their meeting ...

 Apr 29 2016 - Qatar- Met predicts a hot day with some cloudsThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Thursday inshore will be hot during the day with some clouds offshore will be hazy to misty at places and partly ...

 Apr 29 2016 - Qatar key to boosting Turkey-GCC tiesThe Peninsula
(MENAFN - The Peninsula) Emir H H Sheikh Tamim bin Hamad Al Thani met Turkey’s Prime Minister Dr Ahmet Davutoglu and his delegation at the Emiri Diwan yesterday. They discussed relations ...

 Apr 29 2016 - Qatar- Emir welcomes King Mohammed of MoroccoThe Peninsula
(MENAFN - The Peninsula) Emir H H Sheikh Tamim bin Hamad Al Thani welcomes King Mohammed VI of the Kingdom of Morocco and his delegation at Hamad International Airport. Doha: Emir H H Sheikh ...

 Apr 29 2016 - Qatar eyes 'best of the best' turf for 2022The Peninsula
(MENAFN - The Peninsula) A worker tends to grass being grown at a research and development centre in Murakh to find the best playing surface for FIFA 2022 yesterday. Doha: Watching grass grow ...

 Apr 29 2016 - Qatar discusses WTD eventsThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar Tourism Authority (QTA) yesterday held a meeting with UN World Tourism Organisation (UNWTO) to discuss Qatar’s preparations to host World Tourism Day 2017. ...

 Apr 29 2016 - Qatar- Premier meets EU Counterterrorism CoordinatorThe Peninsula
(MENAFN - The Peninsula) Doha: Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani yesterday met European Union Counterterrorism Coordinator Gilles de Kerchove ...

 Apr 29 2016 - Qatar- QU University of Illinois sign dealThe Peninsula
(MENAFN - The Peninsula) DOHA: An agreement signed between Qatar University College of Medicine (QU-CMED) and the Board of Trustees of the University of Illinois at Chicago (UIC) has established ...

 Apr 29 2016 - Qatar- AZF Ramadan Sports Festival from June 10The Peninsula
(MENAFN - The Peninsula) DOHA: Aspire Zone Foundation (AZF) has added cricket and rugby to its annual Ramadan Sports Festival which starts on June 10. The two-week event will end on June 24 (5-19 ...

 Apr 29 2016 - Qatar- First phase of mapping genetic code of citizens in final stageThe Peninsula
(MENAFN - The Peninsula) By Fazeena Saleem DOHA: The initial phase of an initiative to map the genetic code of citizens for better diagnoses and treatment of diseases in Qatar has reached the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help