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IATA reports airfreight growth in all regions except Africa in Oct-2013

5-Dec-2013 11:15 AM

IATA reported (04-Dec-2013) a small improvement in airfreight growth in Oct-2013, with all regions except Africa showing growth in FTKs. The results reflect the continuing response of airfreight markets to improved economic confidence and consumer demand. Air cargo volumes in Asia Pacific benefited from increased trade across the region, fueled by a stronger Chinese economy. Export and import volumes rose strongly in emerging Asian markets, potentially indicating further airfreight growth in coming months. European airfreight growth slowed as the region's recovery from recession remains fragile. Weak growth is expected to support modest expansion in European FTKs for the remainder of the year. North American expansion slowed compared to early 2013, despite increased activity in the US manufacturing sector over the last three months, and the outlook for the region remains difficult. Middle East freight traffic resumed strong growth after Ramadan and capacity was well matched to demand. Growth in Latin America was supported by increased regional trade volumes, but carriers in the region were impacted by competition from Europe and the US. Growth in Africa continues to be hindered by inadequate infrastructure and lack of political stability and competition on important routes remains strong. African trade volumes continue to increase, while weak demand and capacity expansion placed further pressure on load factors. IATA director general and CEO Tony Tyler said, "Since mid-year we have seen modest but sustained growth in cargo fed by stronger business confidence and improving trade flows. Air cargo is still a very tough business. Matching capacity to demand has been difficult in an environment where passenger traffic is growing more robustly. There is some evidence that the fall in load factors has stabilised, but yields remain under pressure." [more - original PR] [more - original PR - 2]