Growth in air freight volumes slows but market holds stablePost by Cameron Davidson on 29th September 2010 in Shipping, Industry news The annual rate of increase in the amount of air freight being carried across the world slowed in August – but the overall rise was still close to 20 per cent. However, the International Air Transport Association (IATA), which compiled the figures, warned that its latest statistics were almost certainly distorted by the fact that the comparative statistics for 12 months ago were taken as the worldwide economic downturn began to ease. IATA believes that the latest figures show that the market for international shipping by air is stabilising, and that companies have completed their cycle of re-stocking which accounted for massive year-on-year increases in traffic earlier in 2010. “The rapid improvements in demand that we saw earlier this year are behind us. We do not yet see the strong consumer confidence needed to sustain the expansion,” said Giovanni Bisignani, Director General and CEO of IATA. Demand for air cargo space is also said to be stabilising, with capacity now matching it more consistently. Globally, international freight volumes are now reported to be three per cent above those recorded before the recession in early 2008. But Bisignani sounded a note of caution, saying: “Profitability is fragile, and the August results are a reminder that, as we move into 2011, we are expecting a more challenging revenue environment.”
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