Sealed by a solid result in December, global airfreight demand measured in freight tonne kilometres (FTKs) grew by 9.0% in 2017. This was more than double the 3.6% annual growth recorded in 2016, according to the International Air Transport Association (Iata) full-year 2017 data released today.
Freight capacity, measured in available freight tonne kilometres (AFTKs), rose by 3.0% in 2017. This was the slowest annual capacity growth seen since 2012 which means that demand growth outpaced capacity growth by a factor of three.
"Air cargo is still a very tough and competitive business, but the developments in 2017 were the most positive that we have seen in a very long time," said Alexandre de Juniac, Iata’s director general and CEO.
"The outlook for 2018 is optimistic. Consumer confidence is buoyant. And we see growing strength in international e-commerce and the transport of time- and temperature-sensitive goods such as pharmaceuticals. Overall the pace of growth is expected to slow from the exceptional 9.0% of this year. But we still expect a very healthy 4.5% expansion of demand in 2018.”
African carriers posted the fastest growth in year-on-year freight volumes, up 15.6% in December 2017 and a capacity increase of 7.9%.This contributed to an annual growth in freight demand of 24.8% in 2017 – the fastest growth rate of all regions. This is only the second time African airlines have topped the global demand growth chart since 1990. Capacity in 2017 increased 9.9%. Demand has been boosted by very strong growth in Africa-Asia trade which increased by more than 64% in the first eleven months of 2017.
