Africa’s air carriers posted double-digit growth in year on year air freight volumes. The airlines recorded a 17% year on year growth in Average Freight Tonne Kilometers. At the same time, cargo volumes over the past year increased by 11.3%, thanks to inbound investment from the Asia-Pacific region.
The continent recorded the fastest growth in 2019 with an increase in demand of 10.9% even after global air cargo is showing a decline. All regions in the world show a slump in freight market demand except Africa and Latin America.
The continent has recorded an upward trend in its air freight volumes since 2018. This impressive growth contrasts patterns in most regions of the world, where airlines in Asia and North America have recorded a decrease in demand.
An IATA report attributes the global decrease to mounting US-China trade tensions. Moreover, interruptions at the Hong Kong airport increase the chances of a weaker data outrun in August.
Nevertheless, the total freight capacity of the aviation industry seems to increase. The past three months have seen a rise in industry-wide size by 1.4%. Furthermore, Available Freight Tonne Kilometers(AFTKs) rose by as much as 2.6% year on year.