Europe leads regional cargo growth

INTERNATIONAL freight load factors dropped four per cent to 46.5 per cent for April compared to the peak month of May 2010.

Airfreight markets have been outpaced by world trade, which has been expanding 10 per cent a year. Airfreight markets have shrunk by six per cent compared to their post recession peak in May 2010.

Political unrest and natural disasters have reduced Africa and the Asia-Pacific figures. Freight on African carriers contracted by 5.8 per cent, with Asia-Pacific carriers noting a 2.5 per cent contraction.

By contrast, European airlines recorded a 12.9 per cent year-on-year growth for international freight in April.

“Eliminating all distortions, we are growing at three to four per cent,” Giovanni Bisignani, IATA’s director general and chief executive officer, said. “International traffic is now seven per cent above the early 2008 pre-recession levels, load factors are hovering around 77 per cent and business confidence is high. Unfortunately two things are spoiling the party—demand shocks and high jet fuel prices.”