The growth in air cargo demand slowed in June, according to the International Air Transport Association.
Air freight volumes measured in freight tonne kilometres (FTK) rose 1.2 per cent compared to a year ago. This is consistent with falling trade activity and weaker than expected global growth.
Asia-Pacific, North American and Latin American carriers reported year-on-year declines (-0.3 per cent, -3.3 per cent, and -1.6 per cent respectively) while European carriers reported that markets were flat.
This was offset by the strong performance of Middle Eastern (+15.3 per cent) and African (+6.7 per cent) carriers to keep growth in positive territory.
Figures for the first half of the year show that air freight markets expanded by 5.8 per cent in 2014; however year-to-date growth for 2015 stands at 3.5 per cent.
“The half-year report for air cargo is not encouraging,” said Tony Tyler, IATA’s director general and CEO.
“The remainder of the year holds mixed signals. The general expectation is for an acceleration of economic growth, but business confidence and export orders look weak. Air cargo and the global economy will all benefit if governments can successfully focus on stabilising growth and stimulating trade by removing barriers.”