IATA: Air cargo ends 2014 on a positive note

IATA cargo figures report: Russian sanctions having an impact on European airlines; Middle Eastern carriers with strongest growth in 2014

The International Air Transport Association (IATA) released full-year air cargo data for 2014 showing 4.5% demand growth compared to 2013 measured by freight tonne kilometers (FTKs). That is a significant acceleration from the 1.4% recorded in 2013 over 2012.

Air cargo market expansion gathered momentum as 2014 progressed. The year finished on a positive note, with growth in December accelerating to 4.9%, compared to December 2013. The vast majority of the growth in 2014, however, was in the Asia-Pacific and Middle East regions, which respectively contributed 46% and 29% of the expansion in FTKs. Growth was recorded in all other regions, but was particularly weak in Latin America.

“After several years of stagnation, the air cargo business is growing again. This is largely being driven by the uptick in world trade over the second half of 2014. Recent concerns over the health of the global economy and a corresponding fall in business confidence have not yet impacted air cargo. But it is a downside risk that will need to be watched carefully as we move through 2015,” says Tony Tyler, IATA’s Director General and CEO.

European airlines saw FTKs expand 2.3% in December, and by 2.0% in 2014 overall. The Eurozone remains weak and close to recession, with the effects of Russian sanctions also having an impact. Load factors also fell in 2014 as capacity expanded 3.0%.

Middle Eastern carriers enjoyed the strongest growth of any region, expanding 11.3% in December and 11.0% for the year as a whole. Airlines in the region have extended their networks and grown capacity by 11.1% to make the Middle East a hub for freight traffic. In fact they have been responsible for over 37% of the total increase in global freight capacity in 2014.

www.iata.org

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