Middle Eastern carriers’ air freight saw a rapid 10.6 per cent growth in freight tonne kilometres (FTKs) in March, fuelled by network and capacity expansion, according to an International Air Transport Association (Iata) report.

The trade capacity, which is increasing among Middle Eastern economies, grew 17.1 per cent, it said.

The global air freight markets showed a modest 1.6 per cent rise in volumes during the period compared to a year ago.

The industry’s March performance stands in sharp contrast to the exceptionally strong 12.2 per cent rise reported for February, said the report.

February’s performance, however, was positively skewed by the combined impacts of the timing of the Lunar New Year and the labor dispute at US West Coast seaports, it said.

Meanwhile, freight performance over the first quarter of the year has indicated a year-on-year growth of 5.3 per cent - which is in line with general global economic trends and slightly higher than the 4.5 per cent growth that was anticipated in Iata’s December outlook.

Tony Tyler, director general and chief executive officer, said: “The air cargo industry is on a solid but unspectacular growth trend. And there is little evidence today that would point towards an acceleration as the year goes on.”

The association has also called on governments to work in partnership to remove barriers to trade.

“The growth in air cargo markets has shifted down a gear. World trade and air cargo are still growing, but only in line with industrial production. Removing barriers to trade in line with the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) would deliver a much needed boost to the global economy,” Tyler added. - TradeArabia News Service