5.8% more global airfreight in July
The International Air Transport Association (Iata) released data for global airfreight markets showing a strong increase in air cargo in July. Compared to the same month in 2013, freight tonne kilometres (ftks) rose by 5.8%. This is an acceleration in growth from June when cargo demand grew at 2.4%.
The strong growth mirrors positive developments in some key regional economies. After a slowdown at the start of the year, global business confidence and trade are showing signs of improvement again, especially in Asia-Pacific (7.1%). Global air cargo volumes have now surpassed their previous July peak in 2010, and look set to continue to increase.
European airfreight, however, only rose by 1.8%. This reflects the effects of the Russia-Ukraine crisis (including the impact of mounting economic sanctions), which is adding to economic weakness in the Eurozone. North American airlines boosted their ftks by 5.2%, Latin American carriers grew ftks by 7.6% year-on-year, Middle Eastern freight markets expanded by 9.4% and African carriers' ftks vaulted by 11.3%.