Global cargo demand, measured in freight tonne kilometre, rose 5.9 per cent in October from the year-earlier month, the International Air Transport Association (IATA) says.
This marked a slowdown from the 9.2 per cent annual growth recorded in September but still exceeded the average annual growth rate of 3.2 per cent over the past decade.
Freight capacity, measured in available freight tonne kilometres, rose by 3.7 per cent year on year in October. This was the 15th consecutive month in which demand growth outstripped capacity growth, which is positive for load factors, yields, and financial performance.
Freight volumes are still expected to grow in 2018, although at a slower pace than in 2017.
“Demand for air freight grew by 5.9% in October. And “Tightening supply conditions in the fourth quarter should see the air cargo industry deliver its strongest operational and financial performance since the post-global financial crisis rebound in 2010,” said Alexandre de Juniac, IATA's director general and CEO.