For the first time in two years, analysts at Dutch aviation market data firm WorldACD said air cargo volume worldwide grew by more than 5 percent, year-over-year, for the month of September, and saw a continuing trend of improving yields, compared to previous months. Could this be signs of a significant turnaround for what WorldACD described as a “beleaguered” industry?
“One could be forgiven for thinking that the industry shows signs of improving health,” WorldACD said, adding that industry sources say October may “be even better.”
The actual y-o-y figure for total weight transported in September was 5.2 percent, led by the European region, which reported an 8 percent y-o-y improvement in volume growth for the month. The Asia-Pacific region followed close behind, with 6 percent, y-o-y, growth in September. Latin American growth, however, was flat for the month.
The United States and China, not surprisingly, were the two largest growth markets, showing signs that peak season volumes via Hong Kong were beginning to ramp up earlier than expected this year. Also, worldwide air cargo yield in September showed a 1.4 percent increase, month-over-month, thanks in part to the peak season surge.
WorldACD also noted that the September figures could be skewed toward the positive side because it had one more Friday included in the month than the previous September, meaning that one extra “strong” cargo day may have boosted the overall volume by up to an extra percentage point.
For the third quarter, WorldACD said overall volumes were up by 3.2 percent, compared to the previous Q3, along with a slight improvement in yields. Europe again led the Q3 pack, with a 4.6 percent quarterly growth, y-o-y, followed by Asia-Pacific (3.2 percent) and the Middle East (2.9 percent). Forwarders Expeditors International, CEVA and Agility reported the highest y-o-y growth during the three-month period.