Nahimah Ajikanle Nurudeen
The International Air Transport Association (IATA) has said that the surge in air freight across the world in September could be attributed to the rush replacement of Samsung Galaxy Note 7 devices during the month, as well as the early impacts of the collapse of the Hanjin marine shipping line at the end of August.
The global body of airline operators in its latest statistics on cargoes noted that September’s positive performance coincided with an apparent turnaround in new export orders in recent months.
According to the statistics, air freight demand measured in freight tonne kilometers (FTKs), rose 6.1% year-on-year which was the fastest pace of growth since the disruption caused by the US West Coast seaports strike in February 2015.
Airlines across African continent saw freight demand increase by 12.7% in September 2016 compared to the same month last year and the fastest rate in nearly two years.
The capacity surged year-on-year by 34 per cent on the back of long-haul expansion in particular by Ethiopian Airlines and North African carriers was released latest data for global air freight markets in September 2016.
Freight capacity, measured in available freight tonne kilometers (AFTKs), increased 4.7% over the same period. Load factors remained historically low, keeping yields under pressure.
“Demand for air cargo strengthened in September. Although with growth in world trade virtually at a standstill, the air cargo sector still faces some major hurdles. We did have some encouraging news. The conclusion of the EU-Canada Free Trade Agreement is good news for the economies involved and for air cargo. Growth is the way to overcome the world’s current economic challenges. The EU-Canada agreement is a welcome respite from the current protectionist rhetoric and positive results should soon be evident. Governments everywhere should take note and move in the same direction,” said Alexandre de Juniac, IATA’s Director General and CEO.
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