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
 Jul 25 2016 - Saudi's PetroRabigh net profit falls 80 pct in Q2MENAFN
(MENAFN) Saudi Arabia's Rabigh Refining and Petrochemical Co (PetroRabigh) said it has experienced a 79.6 percent drop in net profit during the second quarter.The company, a joint venture between ...

 Jul 25 2016 - Abu Dhabi hosts strategic investments meetingMENAFN
(MENAFN) Pooling knowledge and resources from within the oil and gas industry is vital to energy sector progress, said senior officials and world representatives at a recent gathering in Abu Dhabi.In ...

 Jul 25 2016 - 390m revenues of Vodafone Egypt in Q4 of FY 2015/2016Daily News Egypt
(MENAFN - Daily News Egypt) Vodafone Egypt achieved an 11.2% growth in its revenues during the fourth quarter (Q4) of fiscal year (FY) 2015/2016 which ended in March. According to the data from the ...

 Jul 25 2016 - Knesset members to visit Saudi, recognised relations with Israel come to the lightDaily News Egypt
(MENAFN - Daily News Egypt) Arab-Israeli member of the Knesset Issawi Frej told Israeli state media on Sunday that preparations are ongoing for a visit of opposition members in the Israeli parliament ...

 Jul 25 2016 - Environment minister meets with African counterparts to prepare for COP22Daily News Egypt
(MENAFN - Daily News Egypt) Minister of Environment Khaled Fahmy held a meeting with his counterparts from Gabon, Niger, and Namibia on Sunday in Cairo, in his capacity as the president of the ...

 Jul 25 2016 - Has the public's initial post-Brexit denial passed?Daily News Egypt
(MENAFN - Daily News Egypt) Britain's decision to leave the EU fueled a rise in xenophobia and fears about the future. A month after the bombshell, DW talks to remain voters and EU nationals in the ...

 Jul 25 2016 - Internet market attracts 200,000 new customers in April 2016Daily News Egypt
(MENAFN - Daily News Egypt) A report by the Ministry of Communications and Information Technology has shown a slight decline of 0.12% in the number of mobile service subscribers in April, compared to ...

 Jul 25 2016 - Unified sermon is in the best interest of society: Ministry of Religious EndowmentsDaily News Egypt
(MENAFN - Daily News Egypt) The decision to unify Friday prayers by giving preachers written sermons is in the best interests of society, Minister of Religious Endowments Mohamed Mokhtar Gomaa said ...

 Jul 25 2016 - DPI acquires 33.3% of B.TECH, worth $35mDaily News Egypt
(MENAFN - Daily News Egypt) The Financial Times reported on Sunday that private equity firm DPI will acquire 33.3% of household appliances retailer B.TECHa deal worth $35m. According to a previous ...

 Jul 25 2016 - Egyptian renewable energy disinvestment over price and arbitration disagreementsDaily News Egypt
(MENAFN - Daily News Egypt) Italy's Enel Green Power has exited the renewable energy market in Egypt and is seeking compensation for investments it has already injected, according to Al-Borsa ...

more...


 





Google

Easy Forex

 
 

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