IATA: Quarterly Cargo Market Analysis

IATA: Quarterly Cargo Market Analysis

Annual growth in air freight tonne kilometers (FTKs) slowed to 2.8% in the three months ended July – its slowest pace on this basis in more than two years. While FTKs are continuing to increase in seasonally adjusted (SA) terms, the upward trend has slowed markedly from that seen during the best of the upturn in air freight last year.

This largely reflects the fact that the inventory restocking cycle, which helped air freight growth to outperform that of wider global trade in 2016/17, has now run its course. More generally, against a backdrop of rising trade protectionism measures, wider momentum in world trade also looks to be weakening.

Cargo yields have continued to trend upwards in H2 2018, albeit at a slower pace than a year ago. While the industry-wide load factor is trending down, ongoing high rates of freighter aircraft utilization will continue to help to reduce average costs, and to help offset ongoing upward pressure on costs, particularly from higher fuel prices.

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Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1979), beginning as a travel agent up through today as a publisher of eTurboNews (eTN), one of the world’s most influential and most-read travel and tourism publications. He is also Chairman of ICTP. His experiences include working and collaborating with various national tourism offices and non-governmental organizations, as well as private and non-profit organizations, and in planning, implementing, and quality control of a range of travel and tourism-related activities and programs, including tourism policies and legislation. His major strengths include a vast knowledge of travel and tourism from the point of view of a successful private enterprise owner, superb networking skills, strong leadership, excellent communication skills, strong team player, attention to detail, dutiful respect for compliance in all regulated environments, and advisory skills in both political and non-political arenas with respect to tourism programs, policies, and legislation. He has a thorough knowledge of current industry practices and trends and is a computer and Internet junkie.

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