Tuesday, July 30, 2013
IATA: Air Cargo Market Makes Weak Progress in June
Global air cargo demand was 1.2 percent higher for the month of June than the same period a year ago, according to a report released by the International Air Transport Association (IATA) Tuesday.
Air cargo carriers in the Middle East saw the highest year-over-year improvement in June, as demand grew by 12.7 percent there. IATA attributed the growth there as being consistent with a trend in the region in recent years, and the geographical advantage of airlines with a high demand for goods from Middle Eastern countries.
Latin American carriers experienced the second highest increase in demand for June, with cargo volumes growing by 7 percent in the region. North American airlines reported a 1.2 percent contraction compared to June 2012, and a 1.6 percent drop for the first half of 2013, likely a reflection of the stagnant U.S. economy.
Airlines within the Asia-Pacific market reported the weakest performance of all regions, with air freight demand dropping by 1.8 percent compared to June 2012, and a 2.3 percent drop for the first six months of the year.
"It’s too early to tell if June was a positive turning point after 18 months of stagnation. Air freight volumes are at their highest since mid-2011, but that good news needs to be tempered with a dose of reality. The global economic environment remains weak, and the basis for the acceleration of air cargo growth in June appears to be fragile," said Tony Tyler, IATA’s Director General and CEO.
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