IATA: Airfreight volumes inch up 2.7% in January

Global airfreight volumes grew 2.7 percent year-over-year in January, but the freight load factor averaged 41.3 percent, a 1.8 percent decline from January 2015.    Global airfreight volumes inched up 2.7 percent year-over-year in January, according to the International Air Transport Association (IATA). Offered airfreight capacity in January surged 7 percent from January 2015.
   Consequently, the average freight load factor fell 1.8 percent year-over-year to 41.3 percent.
   Asia-Pacific airfreight carriers saw January volumes rise 1.3 percent from January 2015, while European airfreight carriers experienced a 2.5 percent year-over-year growth in volumes.
   Volumes transported by North American airfreight carriers increased 2.5 percent from January 2015, which was supported by the increase in trade with Europe, particularly imports.
   Meanwhile, Middle Eastern airfreight carriers increased volumes by 8.8 percent year-over-year, supported by large-scale network and fleet expansion.
   However, Latin American and African airfreight carriers experienced declines in airfreight volumes. Volumes carried by Latin American airfreight carriers dropped 3.6 percent from January 2015. The region’s largest economy, Brazil, has been struggling due to the fall in the price of oil and other commodities.
   African airfreight carriers experienced a 1.4 percent year-over-year drop in airfreight volumes. Nigeria and South Africa, the region’s largest economies, were hit particularly hard by the slump in global commodity prices.