Africa accounts for 1.6% global air cargo mkt share-IATA
The clearing house for over 260 global airlines, the International Air Transport Association (IATA) said Africa, currently accounts for just 1.6 per cent of the global air cargo market share.
The continent saw a 13.6 per cent rise in cargo traffic – measured in Freight Tonne Kilometres (FTKs)- during December 2016.
IATA made the disclosure in its latest monthly analysis of performance and trends in the air cargo market. It further stated that at the same time, capacity in the Africa market – measured in available freight tonne kilometres (AFTKs) – rose by 5.3 per cent.
As a result, the average Freight Load Factor, i.e. proportion of available capacity taken up by revenue-generating air cargo consignments – climbed 2.2% for an average 29.6% of available air cargo capacity being taken up.
Also, in its released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs) grew by 3.8 per cent in 2016 compared to 2015, adding that this was nearly double the industry’s average growth rate of 2.0 per cent over the last five years.
Freight capacity, measured in available freight tonne kilometers (AFTKs), increased by 5.3 per cent in 2016.
The body stated that all regions, with the exception of Latin America, experienced positive freight growth in 2016. It noted that carriers in Europe accounted for almost half of the total annual increase in demand.
After a weak start to 2016, global freight volumes recovered in the second half of the year. A strong peak season, an increase in the shipment of silicon materials and a turnaround in new export orders contributed to the later uptick in demand.
The early timing of the Lunar New Year (in January 2017) may also have helped push demand higher in December.
“In terms of demand, 2016 was a good year for air cargo. That was boosted by solid year-end performance. Looking ahead, strong export orders are good news. But there are headwinds.
“The most significant is stagnant world trade which also faces the risk of protectionist measures. Governments must not forget that trade is a powerful tool for growth and prosperity,” said Alexandre de Juniac, IATA’s Director General and CEO.
“The air cargo industry must also improve its competitiveness. We know that the way forward is defined by digital processes which will drive efficiency and improve customer satisfaction. We must use the momentum of renewed demand growth to drive the important innovations of the e-cargo vision,” said de Juniac.
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