October bounce prompts 2014 optimism

October’s air cargo growth, better than 2013, is prompting the view that 2014 will become the second-best year for revenues since 2008, despite a 10.4% yield drop since 2011, the best post-crisis year to date.
The latest monthly update from Netherlands-based research house WorldACD Market Data said: “Until October came along, 2013 had been another lacklustre year for air cargo. Since that strong month, business has continuously looked up.”
October 2014 saw a volume increase of 5.5% year-over-year (YoY). Yields (in US dollars) dropped 2.3% YoY, but increased two per cent month on month.
WorldACD, which uses primary data supplied from global airlines, said that China and north east Asia showed YoY revenue increases above 14% for their business to the US.
“Markets from south Asia to south east Asia and from the US to southern Africa were leaders in yield improvement (+12%), but yields suffered almost 10% in the market from north east Asia to south east Asia.
“Top regions for revenue increase were south east Asia for outgoing and US for incoming traffic, both + 12% YoY. Revenue from pharmaceuticals transport rose by 9.7%, making for continued growth of its share in total air cargo revenues.”
According to WorldACD, the transpacific did “considerably better” than other major markets in October and the full year’s figures for the transpac market could still improve, given the maritime container congestion in west coast US ports.
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