By Tunde Osho
The International Air Transport Association, IATA, has revealed that African airlines recorded the largest year-on-year increase in demand of all regions in November, with freight volumes rising 17.5 per cent.
The development, according to IATA’s Director General and CEO, Alexandre de Juniac showed positive outlook for 2018.
“Air freight demand remains robust. November showed 8.8% year-on-year growth, keeping up the momentum that will make 2017 the strongest year for air cargo since 2010.
“And there are several indicators that 2018 will be a good year as well. In particular, buoyant consumer confidence, the growth of international e-commerce and the broad-based global economic upturn are cause for optimism as we head into the New Year,” he said.
According to the figure of global air freight markets released Thursday, it was revealed that capacity increased by 24 per cent.
During the same period international freight volumes grew by 17.8 per cent, a deceleration from 27.2 per cent in October.
African carriers posted the largest year-on-year increase in demand of all regions in November, with freight volumes rising 17.5%.
Asia-Pacific airlines saw freight volumes increase by 8.1% and capacity expand by 1.2% in November, compared to the same period last year.
North American carriers posted an increase in freight volumes of 9.6% for November. Capacity increased 3.9%.
European airlines posted a 9.9% increase in freight demand in November and a capacity increase of 4.7%. Concerns that the recent strengthening of the euro might have affected the region’s exporters have not materialized. Europe’s manufacturers’ export orders are growing at their fastest pace on record.