Middle East volumes increase 3.9%
The International Air Transport Association (IATA) released full-year 2018 data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs) grew by 3.5% compared to 2017.
This was significantly lower than the extraordinary 9.7% growth recorded in 2017.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 5.4% in 2018, outpacing annual growth in demand.
Middle Eastern carriers an annual increase in demand of 3.9% in 2018 – the third fastest growth rate of all the regions.
Freight volumes increased 0.1% year-on-year in December and capacity increased 4.5%.
Annual capacity increased 6.2%. The region continues to be affected by geopolitical issues.
In general, global air cargo’s performance in 2018 was sealed by a softening in demand in December.
Year-on-year, December demand decreased by 0.5%.
This was the worst performance since March 2016. Freight capacity, however, grew by 3.8%.
This was the tenth month in a row that year-on-year capacity growth outstripped demand growth.
International e-commerce grew in 2018 which was a positive factor for the year.