Europe Air Cargo Falls 3 Percent

Cargo traffic for European airlines fell at the steepest rate in nearly two years in October, sliding 3 percent from a year ago on weak trade with Asia, according to the Association of European Airlines.

Carriers expanded overall traffic 7.6 percent from September to October, but the growth marked only a modest bump up in what is usually the busiest month for international expedited shipping.

Business connected with the Far East and Australasia was the weakest among major trade lanes, falling 5 percent year-over-year, although that trade improved 7.5 percent from September, according to the AEA figures.

September was a weak month in what has become a stagnant year for European airlines, with traffic flat or falling now for six months in a row. For the first 10 months of the year, freight traffic for Europe’s airlines was up 2-7 percent compared to the January-October period a year ago.