Air cargo revenues down 9% in first half of 2015

Worldwide air cargo revenues in the first half of 2015 are more than 9% behind last year, but recent market softness appears to have plateaued in June.
The latest figure from WorldACD show that air cargo revenues declined by 9.3% year on year during the first six months, with almost all city pairs monitored suffering a decline.
The worst performing origin and destinations over the half year was Asia Pacific and Europe which “suffered heavily” with revenue losses of between 13% and 47% on the previous year due "more to yield deterioration than volume loss”.
WoarldACD said: “Of the top-50 traffic streams outside the transpacific market, only three recorded a positive revenue development: Nairobi-Amsterdam, Chicago London and Mumbai-London. Of the absolute volume growth worldwide, 37.5% came from pharmaceuticals and perishable only.”
However, when looking at June in isolation, the latest month for which data is available, Europe’s performance “changed remarkably” with volume growth of 5.9% against last year, compared with a 1.2% decline in May.
World ACD said other than Europe there was not too much change in June.
“Year-over-year volume growth was slightly higher [in June] at 2.6% compared with 1.8% [in May], overall yield in dollars fell again by 2% compared with May, yield excluding charges stood its ground, and Africa at 5% growth and the Middle East & South Asia (MESA) at 6.4% were again among the best performing origins volume-wise,” the analyst said.
The continued slowdown of the Asia Pacific region was again reflected in the figures with year-on-year volume growth of only 0.4%
The analyst also looked at which product types had driven growth over the first six months of the year and found perishables and pharmaceuticals led the way.
Its figures show growth in perishables was largest to the MESA at 59% and Asia Pacific at 35%, while perishable transport to Europe and North America lagged behind with growth figures of around 15%.
In pharmaceuticals, Asia Pacific recorded a 74% increase and MESA saw growth of 66%.

Source: WorldACD
Notes: US $ figures

Source: WorldACD
Notes US $ figures