Global air freight demand shows signs of improvement

IATA - the International Air Transport Association released figures last week that showed a 1.2% year-on-year increase in air freight demand in June. While a seemingly modest improvement, the figures are likely to be well received by the industry, given that recorded year-on-year growth was only 0.9% in May and a mere 0.1% for the first half of the year. 

While in recent months much of the growth in air freight demand has been atributed to the Middle East, Asia Pacific and - to a lesser extent - Africa, the strongest improvement in business confidence are now occurring in some more developed economies. Nevertheless, overall business remains weak, and IATA states that this is a key indicator for air freight. 

“It’s too early to tell if June was a positive turning point after 18 months of stagnation. Air freight volumes are at their highest since mid-2011, but that good news needs to be tempered with a dose of reality. The global economic environment remains weak, and the basis for the acceleration of air cargo growth in June appears to be fragile,” said Tony Tyler, IATA’s Director General and CEO.