In Euros, the worldwide yield increased by 10% year-over-year.
These changes occurred against the backdrop of a 2% y-o-y volume increase, a load factor decrease of 1.3 percentage points year-on-year and a load factor increase of 2.8 percentage points month-on-month, from September to October 2018. According to IATA, demand, measured in FTKs rose 3.1% in October 2018, compared to the same period the year before – up from a 29-month low of 2.5% in September. Meanwhile freight capacity, measured in AFTKs, rose by 5.4% year-on-year in October 2018 – the eighth consecutive month that capacity growth outstripped demand.
WorldACD’s report continues that three regions recorded growth in both outgoing and incoming air cargo: Asia Pacific, Europe and Middle East and South Asia (MESA). Asia Pacific performed best with growth of 4.2% in outgoing cargo and 2.7% for incoming freight. Europe’s figures were 0.5% and 2.7%, respectively, with the MESA region seeing 3.4% and 0.1% increases in the respective categories. In the other areas, the results were a mixed bag: Africa and North America saw growth in incoming cargo but a contraction in outgoing traffic, whilst Central & South America saw the inverse.
The highest region-to-region growth was observed from Central & South America to Asia Pacific (at +33% in October); In terms of yields, Asia Pacific recorded the largest y-o-y increase (10.4%). Africa and North America recorded 8.5% and 6.8% increases in yields.
For the year 2018, through the month of October, y-o-y yield increase stands at 13.4%.
WorldACD’s report also made observations regarding freight movements from the US and China, in light of the concerns surrounding the impact of trade tariffs. In January to October 2018, China's total outbound air cargo grew y-o-y by 1.9% and the US' by 4.9% (total worldwide growth was 3.1%). China to US and US to China were up by 3% and 1% respectively, meaning China to US