Quest for quality helps IAM combat falling market
IAM, Ireland’s largest cargo GSSA, reported a market-beating performance in 2007 for the 14 airlines it represents. But the weak US dollar, over-capacity to China and Ireland’s loss of some hi-tech manufacturing are already creating a mixed picture for 2008. In 2007, IAM’s total tonnages were down less than 1 per cent against 2006, despite the overall Irish airfreight market shrinking by 14%. Star performances came from American Airlines (up 8%), El Al (up 29%), Kuwait Airways (up 29%) and South Africa Airways (up 14%). Traffic to Japan remained stable against 2006, despite a market fall of 45%. But the picture is far more polarised in the first quarter of 2008, with the weak US Dollar severely damaging exports to Ireland’s largest market. While Kuwait Airways traffic is almost quadrupled, traffic to Japan is almost doubled, MNG is doubled, Jet Airways is up 450% against its first comparable month of 2007 and South African Airways is up 22%, falls on routes to north America and China have marred IAM’s overall results. Further evidence of the fragility of the Irish export market was provided by a 25% fall in traffic to Ireland’s top 8 export destinations in January and February, and the fact that the country’s top 8 freight agents alone posted a 6% fall in business over the same period. Quelle: IAM |