The latest figures from IATA indicate that the global air cargo sector is continuing to recover. Following a 6.1 per cent year-on-year growth in freight volumes in July, the market saw a 5.1 per cent increase in volumes in August compared with 2013. The data confirms “continued robust growth”, according to IATA.
The August 2014 figures also reveal that growth was seen across all regions. Airlines in the Middle East, North America and Asia reported the strongest growth (5-8 per cent), while Europe and Latin America lagged with growth of just 1-1.5 per cent.
IATA suggests that the slower growth in these regions is a result of economic weakness in Brazil and EU sanctions on Russia.
IATA’s CEO Tony Tyler said: “The outlook for air cargo is clearly getting better. However, there are some limiting factors on the extent of potential gains. Businesses are reported to have more confidence, but the list of political and economic risks continues to moderate how that confidence translates into actual activity.”