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Mideast air cargo sees slower growth in May: IATA report

Xinhua, July 7, 2016 Adjust font size:

Cargo demand in the civil aviation sector in the Middle East rose by 3.2 percent year on year in May, posing a slower growth speed, said the International Air Transport Association (IATA) on Wednesday.

The IATA noted that despite the fastest growth reported by the carriers in the region, "demand conditions have weakened considerably."

The Geneva-based civil aviation group said the growth in May this year was one-fifth of the gains in May 2015, which "reflects both slowing down network expansion by the region's main carriers and weak trading circumstances," said the IATA.

Earlier in May, Sheikh Ahmed Bin Saeed Al-Maktoum, the chairman of the Middle East's biggest carrier Emirates Airline, said the ongoing slump in oil price was a "two-edged sword" as it lowered costs for airliners but dampened businesses and air traffic demand in the oil-rich Gulf states.

The IATA said the global air freight data showed that global demand measured in freight tonne-kilometers slowed in May with growth down to 0.9 percent year on year.

Freight demand shrank or went flat in May across the world except Europe and the Middle East, which saw year-on-year growths in air cargo volumes of 4.5 percent and 3.2 percent, respectively.

Tony Tyler, the IATA's Director General, said global trade has basically moved sideways since the end of 2014, and hopes for a stronger 2016 were "fading" as economic and political uncertainty increases.

"Air cargo is vital to the global economy. But the business environment is extremely difficult and there are few signs of any immediate relief," said Tyler. Endit