newstodate.aero
Nov 27, 2008 (newstodate): With its latest report on international air traffic in October, IATA spreads little comfort to the air cargo industry.
The 7.9 percent decline in air freight during October dragged year-to-date air freight volume to 0.8 percent below the same period in 2007, and forecasted declines in key air cargo sectors indicate that weakness is expected to continue.
Accounting for 44.7 percent of the global cargo market, Asia-Pacific carriers saw their international freight traffic down by 11 percent, reflecting a sharp drop in the region's exports.
North American and European carriers saw less precipitous declines of 7.6 and 5.4 percent, respectively.
African carriers saw a 3.0 percent improvement in cargo during October, reflecting trade growth within Africa, while Middle East carriers were the only others to report growth, one percent, in October.
Down 11.4 percent, Latin American carriers saw the largest decline in volumes.
The 7.9 percent decline in air freight during October dragged year-to-date air freight volume to 0.8 percent below the same period in 2007, and forecasted declines in key air cargo sectors indicate that weakness is expected to continue.
Accounting for 44.7 percent of the global cargo market, Asia-Pacific carriers saw their international freight traffic down by 11 percent, reflecting a sharp drop in the region's exports.
North American and European carriers saw less precipitous declines of 7.6 and 5.4 percent, respectively.
African carriers saw a 3.0 percent improvement in cargo during October, reflecting trade growth within Africa, while Middle East carriers were the only others to report growth, one percent, in October.
Down 11.4 percent, Latin American carriers saw the largest decline in volumes.