June sees air cargo spurt amid higher fuel costs

RISING jet fuel prices in June marred a slight monthly increase in airfreight volumes in May.
The improvement in air cargo demand was consistent with a pick-up in world trade volumes, as well as a small rise in business confidence after a broadly flat trend in prior months, IATA notes.
Oil barrel prices broke the US$125 mark after three months of trading in a tight band slightly below that level.
The four per cent rise in jet fuel costs was a result of disruptions in the crude oil market, with the conflict in Iraq raising fears of cuts in supply, says a statement from the association.
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