|
TREND - “Steady” air freight growth in Jan – IATA
GENEVA, Feb 26 (WorldACD) – In its monthly traffic bulletin, the International Air Transport Association (IATA) says “steady” year-on-year air freight growth of 4.5pct was recorded in January on the corresponding month last year which “runs contrary to downward trends in many leading indicators including semi-conductor shipments and manufacturing business confidence levels.”
“Air cargo has been growing at half the rate of global trade expansion, indicating a loss of market share to shipping which has benefited from faster ships and cheaper fuel costs,” the bulletin reports.
“During the last half of 2007 the (fuel cost) gap narrowed with the sharp increase in prices. The result is that air cargo has clawed back some lost market share, masking any early impacts from the downturn in the US economy.”
“In the larger freight markets there is continued strength. Asia Pacific airlines saw demand increase 6.5pct, up from 6pct in December, boosted by the booming economies in China and India. European airlines saw freight slump to 0.4pct in a pattern very similar to passenger traffic. Most of the air freight is carried on long-haul markets where business for the European airlines has suffered from the strong euro,” the bulletin adds.
|
