Monday, November 30, 2009

IATA Reports Air Freight Still Building Momentum

Crisis Costs Two Years of Growth - Bisignani
Shipping News Feature

WORLDWIDE – Figures released by IATA today indicate that air freight is still depressed though slowly recovering, with demand for international air cargo in October 0.5% below that of the same month last year. This is, however, significantly better than the 5.4% decline in comparison for September.

IATA also reports that compared to September 2009, seasonally adjusted cargo volumes rose by 2.5%. Carriers in all regions experienced improved demand conditions in October compared to September. Air freight traffic is now some 14% above the low point of December 2008.

Despite the improved figures nothing can disguise the fact that the industry has been hard hit, with cargo load factors still only 54% of its pre-recession levels.

Speaking on this IATA’s CEO, Giovanni Bisignani, said that: “The crisis has cost the industry two years of growth. Adjusting costs and capacity to meet that reality will be challenging”.