Sunday, 1 March 2015

Freight of expectation

Full article in JPG format:
page 27 & page 28/29

After several years in the doldrums, the air cargo industry ended 2014 on a “positive note” according to the International Air Transport Association (IATA). It estimates that global freight demand grew 4.5% during the year, buoyed by above-average 5.4% growth in the Asia Pacific region.

While talk of a cyclical upturn may be premature, there is no shortage of optimism among cargo operators, freight forwarders and logistics professionals about the year ahead.

But IATA and others are quick to point out that higher volumes are just one piece of the puzzle. According to WorldACD, an air cargo market data specialist, average yields declined another 1.45% in 2014. That continued the seemingly unending spiral downwards since the global financial crisis of 2007 and 2008, decimating profit margins and casting gloomy skies over an otherwise encouraging set of results for the industry...