Freight traffic up in May
29 / 06 / 2009
IATA’s international traffic results for May show freight demand was down by 17.4 per cent compared to the same month in previous year. This is a slight improvement compared to the 21.7 per cent drop in April. Since December 2008, cargo demand has been moving sideways in the -20 per cent range. This is one of the first physical signs of the economic recovery being anticipated in equity markets.
In May, freight volumes rose by around three per cent above April levels as manufacturers began to add to their product inventories in anticipation of an economic recovery. However, inventories remain 10 to 15 per cent higher than normal in relation to sales levels, indicating that a significant recovery is not expected in the near term. Surveys of purchasing managers indicate we could experience a further improvement in airfreight demand during June and July to levels that are 12 to 15 per cent below last year’s levels.
“Even if we look beyond the crisis, it is difficult to see a return to business as usual. This crisis is re-shaping the industry,” said Giovanni Bisignani (above right), IATA’s chief executive officer.
For more information of the results see the forthcoming issue of Air Cargo News.