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Decline in global air freight 'bottoming out', according to IATA
The decline in global demand for air freight may be ‘bottoming out’, according to the International Air Transport Association (IATA).
While air cargo volume declined 1.2% in November from the same month in 2014, it was higher than October 2015 and its low point of August.
Parts of Asia-Pacific are on the rise again, say IATA, and global export orders have improved. The downward trend in FTK (freight tonne kilometres, a measure of freight traffic) may also be slowing.
The view from the Association of Asia Pacific Airlines (AAPA) is less optimistic, however, describing the air cargo business as 'suffering' from market weakness, inventory overhang and excess capacity.
The director general and CEO of IATA, Tony Tyler, concedes that the future of air freight remains very uncertain, and at the mercy of volatile stock markets.
(Source: The Loadstar)