Africa faces decline in air freight market, according to IATA
The International Air Transport Association (IATA) has released its data for global air freight markets, which showed Africa's freight tonne kilometres (FTKs) have fallen by 1.7%.
The decline comes after the regions largest economies, South Africa and Nigeria, have suffered form an 18 month commodity slump.
In general, FTKs fell by 5.6% in February compared to February 2015, after being affected by US port strikes and the Lunar New Year falling in February.
“In the absence of an imminent resurgence of demand, the importance of improving the value proposition with modernized processes—the e-freight vision—remains a top priority,” said Tony Tyler, IATA’s director general and CEO.
For Asia-Pacific carrier, there was a 12.4% drop, the largest decline out of any region, followed by Northern American airlines who suffered a 4% fall.
European airlines faced a 2.4% decline in demand, leaving European freight volumes barely any higher than they were eight years ago.
Both Latin American and Middle Eastern carriers faced a positive growth, by 2.7% and 3.7% respectively.
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