Air cargo growth accelerates 4.7 per cent in May

Kenya: Air cargo grew by 4.7 per cent in May compared to same period last year, according to the International Air Transport Association (IATA). Cargo volumes, measured by Freight Tonne Kilometres (FTKs) were up across all regions, but with significant differences in performance.

African carriers’ demand increased by 7.2 per cent in May, ahead of the average growth of 2.9 per cent for 2014. Weaker growth in the major African economies in the first months of the year appears to be ending, which will hopefully fuel stronger performance in the months ahead. Capacity rose 7.2 per cent, in line with demand. The Middle East carriers reported 9.3 per cent year-on-year growth, while the corresponding growth rate for North American carriers stood at 2.4 per cent.

“After several months of wavering conditions in the demand environment, the outlook for global air cargo appears to be stabilizing. That’s good news but the sector still faces an uphill battle to restore competitiveness and increase its share of trade growth. This will not be achieved with a business-as-usual mindset,” said Tony Tyler, IATA’s Director General and CEO.

Asia-Pacific carriers recorded a strong increase of 5.3 per cent year-on-year.