General News
Global Air Freight Slowed To 2.2% in 2015- IATA Report
The International Air Transport Association (IATA) released figures for global air freight markets showing cargo volumes measured in freight tonne kilometers (FTKs) expanded 2.2% in 2015 compared to 2014.
This was a slower pace of growth than the 5.0% growth recorded in 2014. The weakness reflects sluggish trade growth in Europe and Asia-Pacific.
After a strong start, air freight volumes began a decline that continued through most of 2015, until some improvements to world trade drove a modest pick-up late in the year.
Cargo in Asia-Pacific, accounting for around 39% of freight traffic, expanded by a moderate 2.3%.
The key markets of Europe and North America, which between them comprise around 43% of total cargo traffic, were basically flat in 2015.
Latin America suffered a steep decline (-6.0%) while the Middle East grew strongly, up 11.3%. Africa also saw modest growth of 1.2%.
The freight load factor (FLF) was at times the lowest for some years, falling to an average 44.1% compared to 45.7% in 2014, driven down by weak demand and capacity expansion.
“2015 was another very difficult year for air cargo. Growth has slowed and revenue is falling. In 2011 air cargo revenue peaked at $67 billion. In 2016 we are not expecting revenue to exceed $51 billion. Efficiency gains are critical as the sector adjusts to shortening global supply chains and evermore competitive market conditions. We have to adjust to the ‘new normal’ of cargo growing in line with general rates of economic expansion. The industry is moving forward with an e-freight transformation that will modernize processes and improve the value proposition. The faster the industry can make that happen, the better,” said Tony Tyler, IATA’s Director General and CEO.
The industry’s key challenges will be discussed in detail at the World Cargo Symposium (WCS) in Berlin, 15-17 March.The world’s largest gathering of air cargo professionals, the 10th WCS will bring together 1,000 delegates under the theme of ‘The Value of Air Cargo’ to debate solutions for strengthening air cargo and the vital service it performs for the world economy.
Regional Analysis In Detail
The global freight growth rate in December was 0.8% compared to December 2014. Within that range there were considerable regional fluctuations.
African airlines FTKs declined by 8.4% in December although for 2015 as a whole the region grew by 1.2%. The FLF in 2015 was 29.7%, the lowest of any region.
The underperformance of the Nigerian and South African economies was a challenge throughout the year, but trade growth to and from the region was sufficient to drive a modest expansion in FTKs.
Asia-Pacific carriers were basically flat in December, expanding just 0.1%. For the whole of 2015, the region grew 2.3%.
The FLF for 2015 was 53.9%, the highest of any region. Cargo expansion in the region has been hampered by a shift in Chinese economic policy to favour domestic consumption.
A mid-year fall of 8% in trade to/from emerging Asia also led to declines but this appears to have bottomed out, with a rebound in the second half of the year.
European airlines grew by 1.2% in December but the performance for 2015 in total was a fall of 0.1% compared to 2014.
The FLF in 2015 was 44.9%. Economic conditions in the Eurozone have been subdued, leading to suppressed demand for air freight, but imports have improved in recent months.
Latin American carriers continued the weak performance of recent months, declining by 6.2% in December and by 6.0% for 2015 as a whole. This was the weakest performance of any region.
The average FLF for 2015 was 38.3%. Economic and political conditions in Brazil have worsened, and regional trade activity has been volatile.
Middle Eastern carriers grew 4.0% in December and for 2015 in total the region expanded 11.3% compared to 2014. The FLF was 42.8% for 2015.
The region enjoyed a strong year as network expansion into emerging markets was supported by economic growth in local economies.
Political instability and the fall in the oil price may impact on some economies in the region but growth as a whole remains robust enough to support further expansion in 2016.
North American airlines saw FTKs expand 1.4% in December compared to December 2014. For the year as a whole, North America grew just 0.1%.
The 2015 FLF was 34.3%. Growth in 2015 faded after a strong start that was flattered by the West Coast ports strike.
Recently there have been mixed signals from economic data, indicating an uncertain outlook for air freight in the coming months.
Police in Abuja have uncovered a criminal group making fake diplomatic and government number plates.
Ahmed Sanusi, commissioner of Police FCT, stated this during a press briefing on Friday.
He explained that criminals use these fake plates to dodge security checks and enter restricted areas.
The investigation started soon after Sanusi took office.
He noticed too many unauthorized cars driving around with official government and diplomatic tags.
“I immediately ordered a comprehensive investigation into this disturbing trend,” Sanusi said. He noted that these individuals use the plates as a cover to commit crimes and avoid arrest.
The police have already arrested several people caught using the fake plates.
They have also figured out who is making them.
The manufacturers operate outside Abuja, and police are actively hunting them down.
Sanusi kept their names secret so they would not flee.
He stressed that this is a highly profitable illegal business.
Buyers pay between N500,000 and N1.7 million for a single fake plate.
“This will tell you that they are making such huge expenditure because they have an agenda,” Sanusi explained.
“Now they will face punishment that is bigger than both the cost they incur and the agenda they are planning.”
The commissioner urged residents to report any cars with suspicious diplomatic plates.
He reminded the public that real diplomatic tags follow a very specific format.
A diplomatic number plate in Nigeria is a special vehicle identification tag issued to foreign embassies, high commissions, and accredited international diplomats.
Gavi has approved $500 million to strengthen Nigeria’s immunisation programme, primary healthcare services and long-term vaccine financing.
The move followed high-level discussions between Professor Muhammad Ali Pate, coordinating minister of Health and Social Welfare, ]and Dr. Sania Nishtar, chief executive officer, Gavi in Abuja.
The funding, approved under the Gavi 6.0 programme, will support Nigeria’s efforts to accelerate routine immunisation, sustain polio eradication, expand HPV vaccination, strengthen primary healthcare services, and improve long-term vaccine financing.
Speaking during the meeting, Pate said Nigeria was strengthening its partnership with Gavi to accelerate immunisation, expand primary healthcare services, and ensure sustainable financing for vaccines.
He welcomed Gavi’s country-focused reforms, including the introduction of a predictable five-year funding envelope.
Pate said the US$500 million allocation will enable Nigeria to plan more effectively and deliver life-saving vaccines to more children and vulnerable populations.
The minister also revealed that quarterly visits to primary healthcare centreshad increased from about 10 million in 2023 to more than 45 million, reflecting significant progress in revitalising the country’s primary healthcare system.
Pate welcomed the announcement of a US$600 million pledge by the United States government to Gavi, describing it as a strong endorsement of the alliance’s leadership and the global value of vaccines.
He also commended Nishtar for prioritising Nigeria and praised the closer coordination among Gavi, World Health Organisation (WHO), UNICEF, World Bank, Gates Foundation, and other development partners, describing it as a model that has improved efficiency and aligned support with Nigeria’s health sector reforms.
The minister expressed appreciation to Gavi and its partners for their continued technical and financial support, while calling on state governments to invest more in healthcare and immunisation to complement federal efforts.
For many women, financial independence means the freedom to provide for their families and build a better future. Yet, this remains out of reach due to limited access to opportunities, business support, and secure payment solutions.
Like millions of women in Nigeria determined to be financially independent, Pricillia started with a single PalmPay POS terminal, and as an agent, every successful transaction provided a commission which brought her one step closer to achieving her dream.
Through consistency, discipline, and support from the payment platform, she reinvested her earnings and eventually opened her own provision store.
“I started as just a PalmPay agent with one POS. The consistency of the platform gave me the confidence to expand. With the income I earned, I was able to open my own provision shop.” Priscilla said.
For Priscilla, PalmPay was more than a payment platform. Its secure payment infrastructure gave her the confidence to serve her customers, build trust, and grow her income.
Today, Pricillia has joined the statistics of SMEs powering Nigeria’s economy and PalmPay continues to support her daily operations, helping her receive payments, as she works towards her next business milestone. Her journey is a reminder that when women have access to secure financial tools and opportunities, they can build lasting economic independence.
Speaking on Pricillia’s journey, Femi Hanson, Head of Marketing, PalmPay said: “Providing a secure platform that users can trust, whether for everyday payments or high-value transactions, is central to our vision of advancing financial inclusion. Priscilla’s story reflects our commitment to supporting the ambitions of Nigerians by providing a platform they can rely on to grow their finances. After all, seamless banking begins with security, and every successful transaction reinforces the trust our users place in us.”
Priscilla stands among thousands of PalmPay agents nationwide who are helping to expand financial access across Nigeria while earning commissions to create sustainable sources of income for themselves.
Every payment tells a story. It begins with trust, the confidence that your money is secure and that financial services are accessible. And when that opportunity reaches women, it creates ripple effects that transform families, strengthen communities, and drive economic growth.
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