IATA: Air cargo up 4.5 percent in 2014

According to the International Air Transport Association, air freight demand growth showed “significant acceleration” from 2013 and 2012 levels.    According to preliminary data from the International Air Transport Association, air cargo volumes in 2014 increased by 4.5 percent compared to 2013. IATA called the growth a “significant acceleration” in contrast with the 1.4 percent increase recorded in 2013 over 2012.
   IATA attributed the majority of growth in air freight in 2014 to the increased volumes in the Asia-Pacific and Middle East regions, which contributed 46 percent and 29 percent of the total volume growth, respectively. International air cargo volumes grew by 4.8 percent for the year, while domestic volumes grew 2.8 percent in 2014.
   Air freight carriers in the Asia-Pacific carriers increased year-over-year volumes by 5.4 percent for the full year in 2014 and 5.9 percent in December.
   Middle Eastern air carriers reported the strongest growth of any region, increasing 11 percent for the full year and 11.3 percent in December compared to the same periods in 2013. 
   Airlines in North American increased year-over-year volumes by 2.4 percent for 2014 and 2.8 percent in December.
   African carriers increased year-over-year volumes by 6.7 percent for 2014 and 12.2 percent in December. 
   European airlines increased year-over-year volumes by 2 percent for 2014 and 2.3 percent in December. IATA said of the region “The Eurozone remains weak and close to recession, with the effects of Russian sanctions also having an impact.”
   Latin American was the only region to see a decrease in air cargo demand, according to IATA. Carriers in the region reported a 4.5 percent year-over-year decrease in volumes in December, and full-year volumes grew by only 0.1 percent. IATA noted “Latin American volumes have been affected by economic slowdown across the region, particularly in Brazil and Argentina.”
   Tony Tyler, director general and CEO of IATA, said of the numbers “After several years of stagnation, the air cargo business is growing again. This is largely being driven by the uptick in world trade over the second half of 2014. Recent concerns over the health of the global economy and a corresponding fall in business confidence have not yet impacted air cargo. But it is a downside risk that will need to be watched carefully as we move through 2015.”