The International Air Transport Association (IATA) has revealed the latest air freight data in global markets for September 2023, which shows a continued recovery in demand.
Global demand measured by freight tonne kilometers increased by 1.9% compared to September 2022 levels (+1.6% for international operations). Capacity, measured in freight tons per kilometre, increased by 12.1% compared to September 2022 (+11.0% for international operations). The growth is largely linked to international capacity, which rose 31.5% year-on-year as airlines expand operations to meet peak demand in the Northern Hemisphere summer travel season.
The main factors affecting the volume of demand for air freight include:
Both the Manufacturing PMI (49.7) and New Export Orders PMI (47.7) were recorded in September, which is a slight improvement from the previous month. However, it remains below the crucial 50-point threshold, indicating a continuing, but slightly slower, annual decline in global manufacturing output and exports.
Global cross-border trade slowed for the fifth straight month in August, down 3.8% year-on-year, reflecting the cold global macroeconomic environment.
Annual growth of the US CPI in September stood at 3.7%, the same rate as in August. While consumer price index inflation in Europe and Japan slowed by 1.0 and 0.2 percentage points, respectively, to reach 4.9% and 3.0%, respectively. In China, political measures aimed at combating deflation saw an annual rise in the consumer price index by 0.1%.
The average September jet fuel price was $131.0 per barrel, representing a 43.1% increase over the May 2023 price. Recovering some of this additional cost from the September surcharge contributed to the first increase in air cargo revenue since November 2022.
And he said Willie Walsh, Director General, International Air Transport Association (IATA): “Air freight achieved modest growth (1.9%) in September despite lower trade volumes and higher jet fuel prices, which clearly demonstrates the strength of air freight’s value proposition. With key export orders and manufacturing PMIs moving closer to positive territory, we can say that we are “We are cautiously optimistic about a strong peak season towards the end of the year.”
Regional performance for September
Airlines registered in Asia Pacific An increase in air cargo volumes of 7.7% in September 2023 compared to the same month in 2022. This is an improvement in performance compared to August (+4.6%), as airlines in the region benefited from growth in three main trade corridors: Europe-Asia ( +9.6%), Middle East-Asia (+7.0%), and Africa-Asia (+12.8%), and the capacity available to airlines in the region increased by 30.5% compared to September 2022 with an increase in belly capacity allocated to air cargo on passenger flights (was The main Asian markets of Japan and China a year ago are still subject to strict travel restrictions due to the pandemic).
Airlines registered in north america Weakest performance in September, with a 2.2% decline in freight volumes. It recorded a decrease compared to August (-1.4%). Although the trade corridor between North America and Asia narrowed (from -4.3% in August to -1.8% in September), the North American and European market held steady at (-2.5%) for the second month in a row, and carriers in the region did not benefit. Significantly, but capacity increased moderately by 0.2% compared to September 2022.
And I recorded European airlines A decline in air freight volumes by 1.5% in September compared to the same month in 2022. This is a decrease in performance compared to the previous month, August (-0.6%), as carriers in the region suffered from a further contraction in the European market (-5.7% in September). Compared to -5.2% in August), the gains achieved from the expansion of the trade corridor between the Middle East and Europe (+3.3% in September compared to +0.5% in August) compensated for some decline in performance within Europe, and capacity increased by 4.7% in September. 2023 compared to 2022.
And I recorded Airlines in the Middle East Strongest performance in September 2023, with a 2.5% year-on-year increase in freight volumes, an improvement on the previous month’s performance (+1.3%). Transport companies in the region benefited from growth in the Middle East and Asia markets (+7.0%) and the Middle East and Europe markets (+3.3%), and capacity increased by 16.1% compared to September 2022.
And I recorded Airlines in Latin America An increase of 2.3% in freight volumes compared to September 2022. This is considered a significant decrease in performance compared to the previous month of August (+6.2%), and capacity in September increased by 14.4% compared to the same month in 2022.
While I recorded African airlines Air freight volumes decreased by 0.1% in September 2023, despite strong growth in demand on the Africa-Asia trade corridor (+12.8%). This is considered an improvement in performance compared to August (-3.5%). Capacity was 2.7% above September 2022 levels.
View air freight industry analysis for September
#Corporate data
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2023-11-12 15:58:27
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