International air cargo growth continued to slow in April like in the last few months, according tothe latest monthly traffic figures from the International Air Transport Association (IATA).
In April, the sluggish air freight volume growth of 3.7% was weaker than the 4.4% averageincrease recorded during the first quarter reflecting the impact of the economic slowdown. TheEU-US Open Skies agreement provided a modest boost to US airlines which recorded 6% growth in Aprildue to extra transatlantic capacity. Middle Eastern airlines recorded a 15.8% increase in April dueto additional capacity and strong trade in the markets they serve.
Asia, the largest air cargo market, grew 2.8% in April following a 1.7% rise in March. Thisis left it with 1.9% for the first four months of the year. Europe showed a 2.9% traffic rise inApril, and a 4.2% traffic increase in the first four months. North America was up by 6% in April,and by 3.7% in the first four months.
“Combine slowing growth with skyrocketing oil prices and the industry outlook is grim atbest,” said Giovanni Bisignani, IATA’s Director General and CEO, as the world’s aviation leadersbegin to gather in Istanbul, Turkey for the IATA Annual General Meeting and World Air TransportSummit.
