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France Freight Transport Report 2010Published by: Business Monitor International Published: Jan. 6, 2010 - 48 Pages Table of Contents
AbstractAir France-KLM, the European airline holding company, registered a net loss of US$598mn from April to June 2009. This was mainly due to a sharp decline in cargo business, which prompted the company to ground four more freighters in winter. In the same period, the airline recorded a 22.7% year-on-year (y-oy) slump in cargo traffic despite a 17.2% reduction in capacity. It reported a revenue figure of US$719mn in April to June 2009, down 41.5% y-o-y. Air France-KLM operates in the passenger and cargo transport business, and also offers aircraft maintenance. It is the largest airline company in the world in terms of operating revenues, and the third largest (and the largest in Europe) in terms of passenger-kilometres. BMI believes the decline in cargo traffic is a result of the global economic downturn, which was having a severe effect on the international airfreight sector.BMI is forecasting that the freight industry will continue to grow through to 2014, at a slightly higher rate than in the preceding five-year period, largely because the average for the earlier period was pulled down by the recession of 2009. The main influence on this growth will be the emergence from the trough of 2009, a recovery that will be moderate verging on weak, but will nevertheless underpin demand for freight. On the plus side, the country has made ongoing improvements to the transport infrastructure, especially to airports and the railways. These include the spread of the airport network beyond the Paris basin and the transference of funding of the railways to the regions. In addition, the government’s plans for a cleaner transport system, imply the reduction of congestion in road traffic in urban area, something already felt in the Paris region. Furthermore, the merged Air France and KLM remains a key player, despite difficulties with its airfreight business. According to our latest estimates, transport and communications GDP fell by 1.9% in 2009, 0.3 percentage points less steeply than overall GDP, which we estimate to have fallen by 2.2%. For the 2010- 2014 forecast period, we expect the transport and communications sector to outpace the economy as a whole (largely because of the continuing dynamism of the communications sub-sector). It will achieve average annual growth of 1.9%, versus 1.7 % for overall GDP. The total value of transport and communications GDP will rise to US$204.9bn in nominal terms by 2014, representing 7.2% of France’s GDP. Overall freight carried will grow by 1.7% per annum during the forecast period, on a par with the average rate of economic growth. A 1.7% average annual growth in both road and rail freight transport is forecast until 2014. Growth of 2.2% a year in the airfreight segment is expected as the industry weathers the recession, while sea freight tonnage will grow by a lower 1.6% per annum, also reflecting the impact of less favourable international conditions. Get Full Details About This Report >> |
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