Friday, April 30, 2010

Air Freight Recovers Well Throughout March - IATA

Expect Slight Dip For April From Volcano
Shipping News Feature

WORLDWIDE – The March report from the International Air Transport Association (IATA) indicates that recovery in the air freight industry worldwide continues at a good pace, with worldwide cargo demand up by 28.1% compared to the same month last year.

Although IATA cautions that the figures are slightly disingenuous as March 2009 was the low point in the recession for air freight and that two years of prior growth have been wiped out by the economic crash, the organisations Director General, Giovanni Bisignani, pointed out that the return of demand was far better than had been anticipated.

“The pace of improvement, based on an improving global economic situation, is much faster than anybody would have expected even six months ago,” he said.

According to IATA, global air freight operations are now within 1% point of recovering to its previous high point of early 2008, restoring freight volumes which shrank by over one quarter during the second half of 2008.

The strongest recoveries have been seen in Latin America and the Asia-Pacific region, which have respectively seen increases in demand of 47.9 and 34.1 percent. North America has also seen a strong improvement in demand, up 32.2 percent.

Europe’s carriers saw the weakest improvement, at 11.7 percent, which IATA attributes to the slow recovery in the region. They also state that though the recent ash cloud problems which halted air transport across much of Europe will have some effect on April’s figures, they believe the rapid reestablishment of services will not impede the recovery in demand too greatly.