Mid East cargo share falls for first time since 1999

2018-02-01 06:31:36

MENAFN) For the first time in 18 years, Airlines in the Middle East saw their share of global air cargo demand decrease.

Regional carriers' freight volumes increased 6.3 percent year-on-year in December and capacity increased 4.7 percent, according to International Air Transport Association (IATA).

IATA said in a statement: "Having not seen the strong upward demand of other regions in the first half of 2017, Middle Eastern carries" share of global demand dropped for the first time in 18 years."

"Air cargo had its strongest performance since the rebound from the global financial crisis in 2010... We saw improvements in load factors, yields and revenues," said Alexandre de Juniac, IATA's director general and CEO, adding that the outlook for air freight in 2018 was optimistic.

Meanwhile on the global level, IATA said air freight demand; measured in freight tonne kilometres (FTKs) grew by 9 percent, more than double the 3.6 percent annual growth recorded in 2016.

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