Global air freight volumes increased 4.7% year-over-year in May, according to IATA’s air freight market analysis. Growth increased 1.5 points compared to April.
Comparative year-on-year growth in FTKs was registered in all six world regions, the strongest occurring in the Middle East (up 9.3% year-over-year), Africa (up 7.2%), APAC (up 5.3%) and Latin America (up 4.9%).
Total market AFTK capacity increased 4.3% year-on-year, delivering a global freight load factor of 45.1% for the month, down 0.3 points from April.
IATA CEO Tony Tyler commented on the results: “After several months of wavering conditions, 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.”
Tyler also emphasized the industry’s need to shorten average shipping times, saying the “e-cargo agenda” can cut two days from current average shipping times of 6.5 days.
“This will not be achieved with a business-as-usual mindset,” Tyler said. “The competitors to air cargo are innovating aggressively, cutting end-to-end shipping times and improving efficiency.”