Dubai: Demand for global air freight grew 4.2 percent in November last year as compared to same period in 2013 and is expected to rise by 4.5 percent this year, driven by growth in cross-border trade, International Air Transport Association (IATA) said.
The most significant growth was recorded by carriers in the Asia-Pacific and Middle East regions at 5.9 percent and 12.9 percent respectively. Carriers in these regions captured the vast majority of the global increase (93 percent).
"More goods are being traded internationally and that is fuelling the growth in air freight. It was clear in November that most of that growth is being captured by carriers in the dynamic and relatively business-friendly Asia-Pacific and Middle East regions," said Tony Tyler, IATA's Director General and CEO.
Demand as measured in freight tonne kilometres (FTK) grew by 3.3 percent over the previous November.
"This year we expect air freight markets to expand by 4.5 percent, outpacing projected growth in world trade (4 percent). But that optimism is tempered by the many macro-economic and political risks that continue to impact trade flows," he said.
"The air cargo industry enters 2015 by solid growth trend. To turn the growth into sustained stronger profitability, the air cargo industry faces the challenge of investing in more efficient and higher quality processes and facilities that will give it the winning edge over its competitors," he said.
World Cargo Symposium would be organised in Shanghai from 10-12 March, whose main agenda will be enhancing air freight's competitiveness. The theme for which would be 'Improving the Customer Experience'.
