Air cargo volumes measured by freight tonne kilometres rose 0.5 per cent in October compared to a year ago, according to figures from the International Air Transport Association.
Year-on-year expansion fell back from September’s faster growth rate, and total cargo volumes in October stand 1.1 per cent lower than the peak of the uptrend at the end of 2014.
Tony Tyler, IATA’s director general and CEO, said: “The outlook for air cargo continues to be very difficult. While there was some optimism from third quarter growth it has all but disappeared as the industry basically flat-lined.
“Cargo capacity has grown largely in lock-step with the continued robust demand for passenger travel. As a result, freight load factors have sunk to the 44 per cent range—a level not seen since 2009. Early signs of improvement in export orders may bode well for trade and air cargo but this is unlikely to prevent air cargo finishing 2015 on a low note.”
* IAG Cargo is expanding capacity on its Heathrow to Tel Aviv service from March next year. It is replacing its remaining Airbus A321 with wide-body Boeing 777-200s, which will operate twice daily.
It will have a daily lift of 29 tonnes; representing a net increase of 2500 tonnes in summer 2016 vs the same time this year.
Alan Dorling, global head of pharmaceuticals and life sciences at IAG Cargo, said: “Tel Aviv is a thriving business centre and it’s also one of the most important regions for the manufacture of pharmaceuticals. Through the additional capacity delivered by the 777-200, we can now offer manufacturers in the region greater lift, helping them, as they look to grow their businesses.”