Middle East air freight on the rise in spite of global downturn
Middle Eastern airlines have experienced increased air freight volumes at the same time when global air freight levels are decreasing
Middle East airlines’ cargo volumes have continued to grow steadily, and have risen at a rate of 3.7 per cent year-on-year, according to the International Air Transport Association (IATA). Globally, air freight volumes have been falling by 5.6 per cent, year-on-year in February.
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Tony Tyler, IATA's Chief Executive Officer said: “The air freight business remains a difficult one. February’s performance continues a weak trend. And there are few factors on the horizon that would see this change substantially.
“Over the past six months the major carriers in the region have cut their rate of route expansion, which may account for the relative slowdown in freight volume growth."
Middle East carriers have also experienced a halving in cost of cargo volume growth - at 6.8 per cent in the year to February compared to 13.8 per cent for the same two months of last year. While the year to February was still 1.6 per cent down from last year, the period showed 6.3 per cent growth over 2014.
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Middle East carriers account for 14 per cent of the global market share.
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SOURCE: [The National]
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