Air Cargo Continues Slow Growth Trend
The slow growth in air cargo markets continued in August, said the International Air Transport Association. August air freight demand was up 3.6% over the previous year, and year-to-date figures show a 0.7% expansion, it said. “There are some signs…
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of improvement in demand, but the air freight business remains very tough. Freight volumes are only now reaching the levels of 2011 when the cargo business peaked with revenues of $67 billion,” said Tony Tyler, IATA director general. IATA said the biggest growth was in international air cargo, at 3.7%, with domestic up only 3% in August. Most of the August growth came from carriers in Europe and the Middle East, while Asia-Pacific volumes were stagnant and African volumes fell significantly, IATA said. North American airlines showed signs of a small pick-up, with growth of 0.7%, it said.