Middle East carriers maintained their strong upward trend in freight volumes in July, according to the International Air Transport Association (Iata) on Wednesday.
Regionally, freight volumes increased 9.3 per cent year on year although capacity slipped slightly by 0.4 per cent.
Seasonally-adjusted international freight volumes have maintained their solid growth, Iata said. However, amid strong competition from other regions' carriers particularly on the Asia-Europe route, the Middle East carriers are not seeing as strong a pick-up in the seasonally adjusted traffic trend as other regions' airlines, although Iata said all regions posted robust freight growth in July 2017.
Growth in air cargo demand is consistent with an uptick in global trade, rising export orders and upbeat business confidence indicators, the agency said. There are, however, signs that demand growth for air freight may be nearing a peak. Seasonally-adjusted air freight volumes were flat in June and fell in July; and the global inventory-to-sales ratio has stabilised. Air cargo often sees a boost in demand at the beginning of an economic upturn as companies look to restock inventories quickly. This tapers as inventories are adjusted to new demand levels.
_______________
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Airlines' profit rises on global economic uptick and lower costs
Cheap plane tickets helped the aviation industry see a 12-year high in traffic, Iata says
Emirates SkyCargo helps Jaguar sharpen teeth in the US
_______________
“July was a strong month for air cargo with double-digit growth. And for the third consecutive month demand for air freight grew at a faster pace than demand for air travel. While the outlook for the rest of the year remains positive, there are signs that the cyclical growth period may be nearing a peak,” said Alexandre de Juniac, Iata’s director general and chief executive.
Asia-Pacific airlines’ freight volumes grew 11 per cent in July compared with the same period a year earlier and capacity increased by 6.3 per cent. Demand growth was robust on all the major routes to, from and within the region, Iata said. Seasonally-adjusted international freight volumes fell slightly in July but remain more than 3 per cent above those reached following the 2010 post-global financial crisis bounce-back.
European airlines posted a 12.1 per cent increase in freight demand and a capacity increase of 5.5 per cent. Double-digit growth in international demand has now been recorded in nine out of the past 11 months bolstered by strong demand on the Europe-Asia market, according to Iata. While export orders remain strong the recent strengthening of the euro may begin to weigh upon the region’s exporters, it said.
_______________
Read more:
Middle East airlines’ freight volumes soar and capacity grows
Positive signs in Middle East air freight market after long spell of inertia
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African carriers posted the largest year-on-year increase in demand of all regions in July with freight volumes growing 33.7 per cent - the second-fastest monthly rise in seven years. Capacity increased by 4.5 per cent over the same time period. Demand has been boosted by very strong growth on the trade lanes to and from Asia which increased 80 per cent year-on-year in June (latest available data) and by 65 per cent in the first half of the year, according to the aviation group
North American carriers posted an increase in freight volumes of 11.9 per cent in July, and a capacity increase of 1.1 per cent. The strength of the US dollar has boosted the inbound freight market over the past few years but its decline since the start of the year is likely to help rebalance trade flows, Iata said.
Global air freight markets show that demand, measured in freight tonne kilometres, increased by 11.4 per cent in July compared to the same period a year ago. This was the fourth time in five months that double-digit annual growth was recorded, Iata said. July’s year-on-year increase in demand is nearly four times higher than the ten year average growth rate of 3.1 per cent.
Freight capacity, measured in available freight tonne kilometres, grew by 3.7 per cent year-on-year.
"Demand growth continues to significantly outstrip capacity growth, which is positive for airline yields and the industry’s financial performance" Iata said.
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
more from Janine di Giovanni
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
COMPANY%20PROFILE
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
At a glance
- 20,000 new jobs for Emiratis over three years
- Dh300 million set aside to train 18,000 jobseekers in new skills
- Managerial jobs in government restricted to Emiratis
- Emiratis to get priority for 160 types of job in private sector
- Portion of VAT revenues will fund more graduate programmes
- 8,000 Emirati graduates to do 6-12 month replacements in public or private sector on a Dh10,000 monthly wage - 40 per cent of which will be paid by government
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
India Test squad
Kohli (c), Dhawan, Rahul, Vijay, Pujara, Rahane (vc), Karun, Karthik (wk), Rishabh Pant (wk), Ashwin, Jadeja, Kuldeep, Pandya, Ishant, Shami, Umesh, Bumrah, Thakur
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
If you go
The Flights
Emirates and Etihad fly direct to Johannesburg from Dubai and Abu Dhabi respectively. Economy return tickets cost from Dh2,650, including taxes.
The trip
Worldwide Motorhoming Holidays (worldwidemotorhomingholidays.co.uk) operates fly-drive motorhome holidays in eight destinations, including South Africa. Its 14-day Kruger and the Battlefields itinerary starts from Dh17,500, including campgrounds, excursions, unit hire and flights. Bobo Campers has a range of RVs for hire, including the 4-berth Discoverer 4 from Dh600 per day.
UAE currency: the story behind the money in your pockets
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
New Zealand 57-0 South Africa
Tries: Rieko Ioane, Nehe Milner-Skudder (2), Scott Barrett, Brodie Retallick, Ofa Tu'ungfasi, Lima Sopoaga, Codie Taylor. Conversions: Beauden Barrett (7). Penalty: Beauden Barrett
