Freight Volumes Slip, Says IATA

Air cargo growth rates have ‘stalled’, according to the International Air Transport Association (IATA). Global freight tonne kilometers (FTKs) were down 2.3 per cent in March compared with March 2012. This was largely due to Asia-Pacific freight, which accounts for 39 per cent of the total market and saw FTK falll 3.3 per cent during the year. The US and Europe suffered declines of 5.2 per cent and four per cent respectively. Middle East and Africa were the only regions to show an increase in volumes. “The March decline in air cargo is most likely a temporary stall. The fundamentals for a sustained improvement in air cargo volumes are in place. Business confidence continues to signal forthcoming expansion, and the solid increase in new export orders seen in 2013 should boost air freight in the coming months,” said Tony Tyler, IATA’s director general.

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