Air cargo recovery strengthens in May
28 / 06 / 2010
GLOBAL airfreight traffic grew 34.3 per cent in May compared to the same month last year, up from the 26 per cent recorded in April.
Latin American and African carriers recorded the fastest increases at 60.2 per cent and 58.2 per cent respectively. Asia Pacific airlines, which represent the largest market share (45 per cent), grew by 38.7 per cent compared to the previous May on the strength of resurgent regional manufacturing. North American and Middle East airlines posted a similar growth of 35.3 per cent and 38.6 per cent respectively. European carriers showed the weakest growth at 21.9 per cent, although the 15 per cent fall in the value of the Euro should stimulate outbound traffic with cheaper European exports.
Strong traffic growth is contributing to a strengthening industry bottom line. Airlines are expected to post a US$2.5 billion profit in 2010 in a dramatic turnaround from the $9.9 billion lost in 2009. “This is good news, but it is only a 0.5 per cent margin. We are still a long way from sustainable profitability,” said Giovanni Bisignani, IATA’s chief executive officer.