Friday, December 30, 2011

Global Air Freight Up for Month but Cargo Totals Down Against 2010

IATA Figures Show Weak Performance Year on Year
Shipping News Feature

WORLDWIDE - The International Air Transport Association (IATA) announced global traffic results for November showing air cargo markets remained weak compared to levels attained earlier in the year. Overall air freight markets were 3.1% below November 2010 levels despite a 1.1% increase on October 2011 performance. IATA figures are based on reports from its 240 or so member companies which represent 84% of the total global air traffic market. Tony Tyler, IATA’s Director General and CEO commented:

“Weak global economic performance is being reflected in air transport markets. Freight markets have contracted some 4% compared to January. Continuing economic uncertainty will likely mean market shortcomings deepening as we enter 2012.”

Globally air freight markets continued their decline in line with weak economic performance and falling business confidence. International markets declined by 3.8% but this was offset by 2.0% growth in domestic markets. Nonetheless, system wide demand shrank by 3.1% in comparison with November 2010.

International freight load factors have declined 6 percentage points from their peak in mid-2010. While freighter capacity has been adjusted to meet demand, belly cargo capacity follows the trend in passenger demand. Regionally Asia-Pacific carriers have seen the weakest demand performance driven by falling demand for Asian manufactured goods from US and European consumers. The region’s carriers saw the market decline by 6.4%.

Meanwhile European carriers reported a 4.6% fall in demand reflecting continued uncertainty associated with the Euro-zone crisis and North American carriers’ operations were largely unchanged from the previous year with only 0.2% growth. The Middle East and Latin American carriers delivered the strongest cargo performance with 4.6% and 4.0% growth respectively whilst African carriers reported a 1.7% year-on-year decline.

The total freight traffic market shares by region of carriers in terms of Freight Tonne Kilometres are: Asia-Pacific 40.5%, Europe 22.0%, North America 23.6%, Middle East 9.8%, Latin America 3.0%, Africa 1.1%.