IATA: Air freight to grow 4.1% annually

The organization said worldwide volumes will increase through 2018.    Worldwide air cargo volumes will grow 4.1 percent annually through 2018, according to the International Air Transport Association.
   In the organization’s “Airline Industry Forecast 2014-2018,” IATA found that the U.S., China and the United Arab Emirates will be adding 1 million tons of freight each to their current totals over the next five years.
   Asia and the Middle East will be the fastest growing international routes, showing gains of 6.2 percent each year. For domestic air freight growth, the Middle East is at the top of the heap with 4.2-percent annual growth, with the U.S. predicted to grow by 3.9 percent each year.
   “It is welcome to see a forecast for a return to growth for the air cargo sector after several years in the doldrums,” Tony Tyler, IATA’s Director General and chief executive officer, said in a statement. “An average of more than 4 percent growth for the next five years would be a marked improvement on the performance of recent years. Since 2011, for example, growth in freight tonnes has averaged just 0.63 percent per year.”