IATA reports 'temporary' decline in global airfreight volumes in 2013

IATA reported (30-Apr-2013) weaker airfreight markets in Mar-2013. Asia Pacific carriers experienced most of the weakness, despite strong regional indicators, due to weak economic conditions among major European trade partners. North American airlines experienced the largest decline in demand due to declining European export markets. Middle East and Africa were the only regions to see improvement in airfreight volumes thanks to expanding airline networks and regional developing economies. The underlying growth trend remains solid in Latin America and demand continued to improve, supported by export growth to North America and China. IATA director general and CEO Tony Tyler said, "The March decline in air cargo is most likely a temporary stall. The fundamentals for a sustained improvement in air cargo volumes are in place. Business confidence continues to signal forthcoming expansion, and the solid increase in new export orders seen in 2013 should boost air freight in the coming months. Much of the current weakness is coming from Asia-Pacific airlines. While the region is economically strong, the economies of its trading partners are not. The Eurozone is showing renewed weakness and the negative impact of US budget cuts is yet to be fully measured." [more - original PR]