Growth in international air cargo again slowed last month, according to the latest figures fromIATA. Competition from other transport modes was one of the key factors.
IATA said that worldwide demand for international freight rose 2.4% (in terms of freighttonne-kilometres) in February 2007 following a 3.0% increase in January. This continued aneight-month trend of slower growth in the cargo sector. Available capacity on the market rose by5.6%, meaning that international airlines suffered lower load factors in overall terms.
The main growth region was the Middle East where traffic increased by 15.4%, largely drivenby oil-led economic growth and increased capacity. Capacity in the region was up by 17%.
In the major markets of Europe and Asia, high fuel costs and strong competition from othermodes of transport continue to limit air freight demand. European international air freight trafficshrank by 0.6% in February despite a 3.9% capacity rise. Asian growth slowed to 4.4% against acapacity increase of 7.4%.
North American airlines saw freight decline 0.5% in February compared to a 6% rise inFebruary 2006 as the impact of last year’s redeployment of capacity to international marketsdecreased. Available capacity in the region was up by 3% last month.
Latin America saw a 20.2% decline in freight traffic due to restructuring. Africa suffered a2% fall despite a capacity increase of 8.5%.
