FreightWaves released air cargo rates and volumes this week. According to the International Air Transport Association (IATA) that represents 290 of the world’s airlines, airlines transport over 52 million metric tons of goods a year, representing more than 35% of global trade by value, but less than 1% of trade by volume. Air transport is certainly a premium service, and as such can be a leading indicator or proxy for certain goods or economic activity.
SONAR now has rate indices available for 6 major lanes, representing the average price per kilogram. Rate indices are available in the following lanes and ticker symbols:
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Frankfurt Airport to North America – FRANOA
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Frankfurt Airport to Southeast Asia – FRASEA
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Hong Kong Airport to Europe – HKGEUR
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Hong Kong Airport to North America – HKGNOA
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Shanghai Airport to Europe – PVGEUR
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Shanghai Airport to North America – PVGNOA
Each lane’s rates are available in three currencies: Euros (AIREUR), US Dollars (AIRUSD), and origin country currency (AIRLOC). To get a rate, you type the index symbol with the appropriate currency and the lane. For example: If a user wants to look up the average rate for the Frankfurt Airport to North America in Euros, they would type AIREUR.FRANOA.
In partnership with Airlines for America (A4A), volume in revenue ton miles is also available in addition to the rates indices. Volumes are offered by all the major U.S. airlines (10) except for Delta and by 4 destination regions, domestic (USA), Latin America (LATAM), Asia-Pacific (APAC), and Europe/Middle East/Africa (EMEA).
In order to see air cargo volume by revenue ton miles in SONAR the user types AIRRTM and then the airline symbol. For example, to see the air cargo volume for Southwest airlines the user types AIRRTM.LUV.