The International Air Transport Association (IATA) released data for global air freight markets in September 2016, which showed that demand, measured in freight tonne kilometers (FTKs), rose 6.1% year-on-year. This was the fastest pace of growth in freight since the disruption caused by the US West Coast seaports strike in February 2015.
Freight capacity, measured in available freight tonne kilometers (AFTKs), increased 4.7% over the same period. Load factors remained historically low, keeping yields under pressure.
September’s positive performance coincided with an apparent growth in new export orders in recent months. Some unique factors also may have contributed, such as the rush replacement of Samsung Galaxy Note 7 devices during the month, as well as the early impacts of the collapse of the Hanjin marine shipping line at the end of August.