Global air freight hits two-year high, according to IATA

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Air freight volumes are at their highest level since mid-2011, according to the latest global air cargo traffic results released by the International Air Transport Association (IATA).

The association revealed global capacity has increased by 3.4 per cent compared to July 2012, pushing load factor down to 43.3 per cent.

The results also showed a continuous improvement from June this year, with global freight kilometres up 1.2 per cent in July year-on-year, compared to 0.9 per cent year-on-year in June.

IATA said airlines in Europe, the Middle East, and Latin America all contributed to July 2013’s reported growth, but that a decrease of 1.4 per cent of cargo demand in Asia-Pacific, compared to the same time last year, has shown weakness.

The Asia-Pacific region also saw air freight decline by 2.1 per cent throughout the first seven months of 2013, which IATA said was the biggest decline among regions.

“The growth is encouraging, particularly in Europe, said IATA’s director general and chief executive officer, Tony Tyler.

“However, it is premature to say that air cargo may be emerging from the doldrums of the past 18 months. The weakness in Asia-Pacific freight markets and the deteriorating political situation in parts of the Middle East give ample reason for continued caution.”

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