International air freight growth continues to be sluggish, reflecting strong competition with seashipping and uncertainty over the economic outlook for 2008, according to the International Air
Transport Association (IATA).In its latest monthly world air traffic figures, IATA said that international freight demandgrowth slowed to 3.5% in November 2007, down from 3.6% the previous month. This was significantlyless than the 5% increase recorded in September 2007. Over the first 11 months of 2007 freightdemand grew 3.9%, well below the 4.8% recorded over the same period in 2006, IATA pointed out.
“Against a backdrop of robust world trade, sluggish freight growth continued to be adisappointment,” commented Giovanni Bisignani, IATA Director General and CEO.
Looking at prospects for 2008, he added: “The expected increase in freight demand growth to4.3% will only help us recover some of the ground lost against sea shipping.” Airlines would needto continue focusing on efficiency and cost control this year, he said.
At a regional level, European carriers achieved 2.9% freight demand growth in November and2.5% over the first 11 months. North American carriers showed growth of 3.3% in November but just0.2% from January to November. Asia Pacific airlines were up 3.6% and 6.1% over the two periodsrespectively, while Middle East carriers grew by 8.1% and 9.5% respectively.
