Global air cargo volume in February 2012 rose 5.2 percent year-on-year, according to the latest traffic results from the International Air Transport Association (IATA).
But the numbers were distorted by weaker traffic during the Arab Spring in 2011, the occurrence of the carnival in Brazil in February 2012, which was a month earlier than the previous year, and the arrival of Chinese New Year in January 2012, which pushed some deliveries into February.
While freight demand continued to be “relatively stable”—a trend that started in September 2011 and is consistent with improvements in business confidence—IATA said the outlook remains fragile.
“Improvements in business confidence slowed in February…It implies that an uptick for cargo is not imminent. At the same time, airlines trying to recoup rising fuel costs could risk reduced volumes on price-sensitive market segments. Weak economic conditions and rising fuel costs are a double-whammy that an industry anticipating a 0.5 percent margin can ill-afford,” said Tony Tyler, IATA’s director general and CEO.
The Asia-Pacific region posted a 10.2 percent year-on-year growth, while Middle East carriers recorded an 18.2 percent volume hike. African carriers posted growth of 3.2 percent over the previous year.
European and North American carriers saw year-on-year declines in cargo traffic of 1.4 percent and 0.3 percent, respectively. Latin American airlines saw the most significant decline with a 3.6 percent fall compared to previous-year levels.
Photo: LHOON
