August air freight volumes were up 5.1 per cent compared to the same period last year, continuing stable growth for the year as a whole, with volumes up 4.5 per cent year-on-year for the eight months to August.
The figures released for August by the International Air Transport Association (IATA) represented the second strongest period of growth for the sector following the 6.1 per cent year-on-year rise recorded in July.
Available capacity for the month grew at a slower pace, up 3.4 per cent year-on-year, down from the 5.3 per cent increase reported in 2013. However, year-to-date growth in capacity is 3.5 per cent, up from 1.9 per cent for the same period in 2013.
Despite reported growth in all regions, Europe and Latin America were lagging, with growth of just one to 1.5 per cent. IATA said this weak growth was the result of Brazilian economic weakness and EU sanctions on business with Russia.
Tony Tyler, IATA director general and CEO, said: “Businesses are reported to have more confidence [in air freight] in the future, but the list of political and economic risks continues to moderate how that confidence translates into actual activity.”
Africa reported the largest uptick in freight volumes for the month, with 9.2 per cent growth, with a 4.2 per cent growth in capacity.