MidEast carriers post July cargo growth despite Ramadanby ASC Staff on Sep 3, 2014
Middle East carriers continued to post world-best growth for cargo volumes in July despite the impact of Ramadan, according to new figures released by the International Air Transport Association (IATA).
Freight markets in the region expanded by 9.4 per cent in July, IATA said in a statement.
"Airlines in the region are capturing growth opportunities by opening routes to fast-developing economies such as Mexico and Uganda," said IATA, adding that capacity rose by 7.8 percent.
Globally, IATA said freight tonne kilometres (FTKs) rose 5.8 per cent compared to July last year.
This was an acceleration in growth from June when cargo demand grew at less than half that rate (2.4 per cent).
Global air cargo volumes have now surpassed their previous July peak, in 2010, and look set to continue to increase, IATA added.
European air freight, however, grew just 1.8 percent reflecting the effects of the Russia-Ukraine crisis.
Tony Tyler, IATA’s director general and CEO, said: "Overall, July saw growth accelerate. That’s good news and it reflects the continued strengthening of business confidence at a global level. But the air cargo industry is moving at two speeds with a sharp divide in regional performance.
"European carriers reported anemic growth of just 1.8 per cent while all other regions reported solid gains of 5 per cent or more on the previous year."