- Air freight markets showed slow and steady improvement throughout 2013, rising 1.4% compared to 2012;
- Growth in 2013 was supported by improving business confidence and recent acceleration in world trade;
- Middle East and Europe carried most of the global rise, while volumes for Asia Pacific airlines declined;
- Middle Eastern airlines' FTKs expanded 12.8%, reflecting strength of local economies and solid exports growth;
- European carriers' air freight picked-up in Q2 as the region emerged from recession, driving 1.8% growth in 2013;
- Airlines in Latin America and Africa also recorded FTK growth, 2.4% and 1.0% respectively;
- But these rates are down on 2012, reflecting recent weakness in some regional economies;
- Asia Pacific FTKs contracted 1.0% in 2013, but a recent pick-up in regional trade could provide some support;
- Load factors turned up toward the end of the 2013, helped by stronger demand, but remain weak at 45%;
- The near-to-medium term outlook for air freight is improving, consistent with the cyclical pick-up in global growth;
- But acceleration in world trade has been in line with economic growth, not at twice the pace as it had been in the past;
- If the past relationship is not restored, further growth in world trade and air freight could be limited.
