Air freight volumes show solid gains

Air freight volumes continue to show solid gains on a year ago, supported by economic improvements in some regions, says IATA in its latest quarterly cargo chartbook.
But high jet fuel prices and overall weakness in yields have kept cargo financial performance from improving so far this year, adds IATA.
“Emerging Asia trade volumes have rebounded after weakness in Q1 and consumers in the US are more optimistic. These developments have supported growth in demand for airfreighted commodities like semi-conductors,” says the report.
It continues: “However, in Europe consumer confidence and trade activity have weakened due to the Russia-Ukraine crisis. Business confidence continues to point to expansion, but rates of improvements are still weaker than 2013 year-end.”
And although jet fuel prices have eased slightly, they remain high at about $120/bb, the chartbook, adds: “On the positive side, although yields remain weak, overall they appear to be stabilizing and are up slightly on a year ago.
“This could help reduce downward pressure on cargo financial performance in months ahead. Consistent with more supportive demand conditions in some regions, cargo heads surveyed in July expect growth in traffic and yields to pick-up during the year ahead.”
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