Air Cargo Traffic Jumped 26.5 Percent in June

Global air cargo traffic jumped by 26.5 percent in June from a year ago and remains 6 percent above the pre-recession peak of early 2008, the International Air Transport Association said.

Cargo capacity rose only slightly above the increase in demand, keeping the load factor at an historical high of 53.8 percent, the Geneva-based airline industry said in its latest monthly report.

The rate of growth slowed in June from the 34.3 percent increase in May was exceptionally high as it included shipments interrupted by the five-day closure of European air space in April following an Icelandic volcano eruption.

Passenger traffic rose 11.9 percent and is now 1-2 percent above pre-recession peak levels.

IATA Secretary General Giovanni Bisignani said he doubted whether current double-digit growth rates will be maintained.

By the Numbers:
International Air Freight Industry monthly year-over-year percent change.

“Business confidence remains high and there is no indication that the recovery will stall any time soon. But, with government stimulus packages tailing off and re-stocking largely completed, we do expect some slowing down over the months ahead,” Bisignani said.

There were sharp regional differences in cargo traffic with Europe continuing to lag other markets.

Air freight demand continued to follow economic and trade patterns with Asia-Pacific carriers boosting cargo volume by 29.8 percent in June, while the Middle East grew 39.6 percent, Latin America 44.9 percent and Africa 54 percent.

North American airlines increased freight volume by 24.2 percent while European carriers trailed at 15.3 percent.

Europe is the only region where freight traffic is still 5-6 percent below the pre-recession peak of the first quarter of 2008.

But the low value of the euro will help the region’s exporters and eventually drive up freight traffic, according to IATA.

--Contact Bruce Barnard at brucebarnard47@hotmail.com.