Global air freight volumes increased 4.7% year-over-year in May, according to IATA’s air freight market analysis. Contrasted with April, air cargo growth increased 1.5 points.

Comparative year-over-year growth in FTKs was seen in all six world regions, the strongest showings occurring in the Middle East (up 9.3% year-over-year), Africa (up 7.2%), Asia-Pacific (up 5.3%) and Latin America (up 4.9%). Total market AFTK capacity increased 4.3% year-over-year, delivering a global freight load factor of 45.1% for the month, down 0.3 point from April.

“After several months of wavering conditions … the outlook for global air cargo appears to be stabilizing,” IATA DG and CEO Tony Tyler said. “That’s good news but the sector still faces an uphill battle to restore competitiveness and increase its share of trade growth.”

Tyler emphasized the industry’s need to shorten average shipping times, saying the “e-cargo agenda” can shave two days off of current average shipping times of 6.5 days.

“This will not be achieved with a business-as-usual mindset,” Tyler said. “The competitors to air cargo are innovating aggressively, cutting end-to-end shipping times and improving efficiency.”