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Thu 8 Dec 2016 02:05 PM

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MidEast carriers post rebound in air cargo demand in October

Air freight demand increases by 9.2%, an improvement over the last few months’ performance

MidEast carriers post rebound in air cargo demand in October

Middle East-based carriers saw air freight demand increase by 9.2 percent in October year-on-year, marking an improvement over the last few months’ performance.

However, latest data released by the International Air Transport Association (IATA) showed that seasonally-adjusted growth has slowed, predominantly due to weak freight volumes between the Middle East and Asia, and the Middle East and North America.

IATA added in a statement that capacity in the region increased by 4.2 percent in October.

Globally, IATA said demand, measured in freight tonne kilometres (FTKs), rose 8.2 percent year-on-year in October.

This was the fastest pace of growth seen in 18 months. Freight capacity, measured in available freight tonne kilometres (AFTKs), increased 3.6 percent over the same period.

Alexandre de Juniac, IATA’s director general and CEO, said: "Global air freight markets look set to end 2016 on a high note. Demand is growing at its fastest pace in 18 months. It remains to be seen how long this growth trend will endure after the year-end peak period and we still face headwinds from weak global trade.

"But there are some encouraging signs. The peak has been stronger than expected. And purchasing managers are reporting a pick-up in new export orders. So we will enter 2017 propelled by some much-needed positive momentum," he said.

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