Worldwide Airfreight Demand Up In May

Posted on Jul 6

IATA reports that worldwide airfreight demand grew by 12.7% in May, outpacing April’s growth which was 8.7% compared year-by-year, pushing load factors to 45.2%, the highest level since July 2014.The market is currently outpacing the five-year average demand growth which is at 3.8%, but some experts fear that demand reached its peak and might slow down from here on.IATA said the improvement was set against a stronger economic and trade backdrop, with the global purchasing managers’ index (PMI) remaining close to a six-year high and growing export order books for global manufacturers.Asia-Pacific airlines’ freight volumes expanded 11.3% in May compared with a year earlier and capacity increased by 6.2%. while North American carriers posted an increase in freight volumes of 13.9% and a capacity increase of 4.1 as strength of the US dollar continues to boost the inbound freight market but is keeping the export market under pressure. European airlines saw a 15% improvement in freight volumes in May 2017 and a capacity increase of 5.7%.