Abu Dhabi: The Middle East contributed 29 per cent of the global expansion in freight tonne kilometres in 2014, accounting for a vast majority of the expansion after the Asia-Pacific region, according to the latest data by the International Air Transport Association (IATA).
The data, which was released on Wednesday, showed that Middle Eastern carriers enjoyed the strongest growth of any region, expanding 11.3 per cent in December 2014, and 11 per cent for the year as a whole.
Airlines in the region have extended their networks, and grown in capacity by 11.1 per cent. They have also been responsible for over 37 per cent of the total increase in global freight capacity in 2014.
Looking at global figures, there was a 4.5 per cent increase in demand in 2014 compared to 2013 measured by freight tonne kilometres. The figure marks acceleration from the 1.4 per cent recorded in 2013 over 2012.
The year finished on a positive note, with growth in December accelerating to 4.9 per cent, compared to December 2013. Though growth was recorded in all regions, it was particularly weak in Latin America.
“After several years of stagnation, the air cargo business is growing again. This is largely being driven by the uptick in world trade over the second half of 2014. Recent concerns over the health of the global economy and a corresponding fall in business confidence have not yet impacted air cargo.
But it is a downside risk that will need to be watched carefully as we move through 2015,” said Tony Tyler, IATA’s director General and chief executive officer.
