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Mon 14 Sep 2015 02:33 PM

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MidEast carriers post double digit July passenger, cargo growth

Region's airlines report demand growth of 19.8% and 10.8% respectively in July, according to IATA

MidEast carriers post double digit July passenger, cargo growth

Middle East carriers saw double digit growth for both passenger and cargo demand during July, according to new figures released by the International Air Transport Association (IATA).

The region's airlines experienced a 19.8 percent demand surge in July over the same month in 2014 buoyed by the timing of Ramadan.

Capacity rose 17.7 percent and load factor climbed 1.5 percent to 79.6 percent, IATA said in a statement.

Middle Eastern carriers also saw the strongest cargo growth with demand expanding by 10.8 percent, and capacity rising 18.3 percent, again due to the timing of Ramadan which started in June this year.

Globally, IATA said passenger traffic, measured in revenue passenger kilometres, rose 8.2 percent, which was an improvement on the June year-over-year increase of 5.5 percent.

July capacity increased by 6.5 percent, and load factor rose 1.4 percent to 83.6 percent.

“July results were strongly positive but slowing global trade and the wild gyrations of stock exchanges around the globe suggest that we may be in for some turbulence in coming months,” said Tony Tyler, IATA’s director general and CEO.

Air freight volumes globally, measured in freight tonne kilometres, fell 0.6 percent, in line with weaker global economic growth.

The decline was broad-based across all regions with the exception of Africa and the Middle East.

“The recent stock-market turmoil shows that investors have real fears about the strength of the global economy. And the disappointing July freight performance is symptomatic of a broader slowdown in economic growth. The combination of China’s continued shift towards domestic markets, wider weakness in emerging markets, and slowing global trade indicates that it will continue to be a rough ride for air cargo in the months to come,” said Tyler.

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