According to the association this was up from the 8.7 per cent annual growth recorded in April 2017 – over three times higher than the five-year average growth rate of 3.8 per cent.

Freight capacity, measured in available freight tonne kilometers (AFTKs), grew by 5.2% year-on-year in May 2017.

“May was another good month for air cargo,” said Alexandre de Juniac, IATA director general, CEO. “Demand growth accelerated, bolstered by strong export orders.

“And that outpaced capacity growth which should be positive for yields. But the industry can’t afford to rest on its laurels.

“With indications that the cyclical growth period may have peaked, the onus is on the industry to improve its value proposition by accelerating process modernization and enhancing customer-centricity.”