Iata: air cargo continues low gear acceleration
The International Air Transport Association (Iata) reported a continued modest improvement in air cargo markets in August. August airfreight demand was up 3.6% on the previous year. That is considerably better than year-to-date performance of a 0.7% expansion.
Demand for airfreight began increasing gradually from April, in line with strengthening business confidence, as the economic performance in Europe and the US showed signs of improvement. The eurozone economy, for example, stabilised in Q2/2013 and import volumes have improved. A strong upswing, however, would require a significant improvement in the cargo performance of airlines in the Asia-Pacific region. They are the largest players in global air cargo with a collective market share of 38%. Their year-on-year performance for August was basically flat (-0.2%).