IATA: Air freight volumes show signs of life in June 2013

Growing demand fort he sale of light-weight high-value goods to stimulate the European carriers freight volumens
 
The International Air Transport Association (IATA) released June figures showing a 1.2% year-on-year expansion in global air freight demand. Although weak, this is an improvement when compared to the 0.9% year-on-year demand growth recorded in May and the 0.1% growth realized over the first half of the year.
 
While previously the global economic trend has been defined by robust emerging economies and stagnant growth in developed markets, the strongest improvements in business confidence are now occurring in some developed economies. Nevertheless, overall business confidence, which is a key indicator for air freight, continues to be weak.
 
From May to June, global freight volumes increased by 0.8%. A quarter of that improvement was captured by European airlines which saw a 0.9% improvement in demand compared to May, and 2.6% up compared to June 2012. In contrast, Asia-Pacific carriers (the biggest players in global air freight) and North American airlines recorded year-on-year declines of 1.8% and 1.2% respectively. 
 
“It’s too early to tell if June was a positive turning point after 18 months of stagnation. Air freight volumes are at their highest since mid-2011, but that good news needs to be tempered with a dose of reality. The global economic environment remains weak, and the basis for the acceleration of air cargo growth in June appears to be fragile,” said Tony Tyler, IATA’s Director General and CEO.
 
Asia-Pacific demand continued to be weak with volumes contracting 1.8% compared to June 2012 and by 2.3% over the first six months of the year. This is the weakest performance among the regions and   reflects the broad impact of the slowing Chinese economic expansion.
 
By contrast, European carriers freight volumes grew by 2.6% compared to June 2012. Although the Eurozone remains in recession, there are some signs of stability. For example, manufacturing activity contracted at its slowest pace in 16 months, easing pressure on key economies such as Italy, Spain and France. Moreover an improvement in consumer confidence is likely to support demand for the sale of light-weight high-value goods that are typically shipped by air.
 
www.iata.org/cargo

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