Global airfreight volumes in November 2017 were 1.3 percent higher than the previous record, set last October, according to recently released statistics from industry analyst WorldACD Market Data.
A record in worldwide air cargo volume that was set in October 2017 has already been broken, according to newly released statistics compiled by industry analyst WorldACD Market Data.
November 2017 beat last October by 1.3 percent, WorldACD said Dec. 31, marking the third month in a row that year-over-year yield increase in USD had to be written in double figures, this time, the plus-17.3 percent was the highest since the recovery after the 2009-crisis.
The price of jet fuel increased by 35 percent over the same period, WorldACD noted.
“With volumes growing YoY at 7.8 percent in November, airline revenues in USD for the month were more than 26 percent higher than in November 2016,” WorldACD explained in a statement.
The analysis firm’s volume index, which every month shows the moving average for the then last 12 months, steadily increased over the course of 2017, from just over 120 in January to 131.6 in November.
“The most striking feature of the November figures was the yield increase from Europe,” WorldACD explained in a statement. “Measured in EUR, yields jumped by almost 19 percent YoY to all destinations worldwide. The Americas played an important part in this jump: YoY yields from Europe to destination North America rose by 28 percent and to Central & South America (C&SA) by 25 percent. In U.S. dollars, the figures were 40 percent and 36 percent respectively.
In terms of November volumes, a number of markets showed double digit growth figures YoY, statistics show. In the larger markets, these were Asia Pacific to North America (plus-11.5%), Europe to Middle East & South Asia, or MESA (plus-11.3%), and MESA to Europe (plus-21.1%).
Of the smaller markets, C&SA to Europe (plus-12.2%), North America to MESA (plus-19.5%), and MESA to Africa (plus-20.1%). Asia Pacific strengthened their positions as prime growth market, WorldACD said.
“Looking at the various groups of airlines, we noted that airlines from Africa, North America Asia Pacific and Europe contributed more than average to the YoY volume growth of 7.8 percent,” WorldACD stated. “They managed to grow by 14.5 percent, 11.4 percent, 9.4% and 8.7 percent, respectively.”
Airlines based in Middle East & South Asia grew by 5.2 percent YoY, while Central & South America saw their total volume decrease by 6.4 percent, data show. Of the airlines growing more than 20 percent YoY, three are based in Africa, three in Europe and two in MESA.