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Indiaexportnews.com

Global air cargo demand fell to 9.6 per cent

  02.10.2009    

Global air cargo demand in August fell to 9.6 per cent from the 11.3 per cent drop suffered in July, according to the International Air Transport Association (IATA).
Best performers, said IATA, were Latin America, up 3.9 per cent, and the Middle East, which increased three per cent. Asia Pacific, which accounts for 44 per cent of the global market, improved marginally in August with a decline of nine per cent, narrowing from the 9.5 per cent loss in July.
North American losses narrowed to 12.1 per cent in August from 14.5 per cent in July while European cargo volume declined to 14.5 per cent in August from 16.2 per cent in July. Improvement was even better in Africa with declines narrowing sharply to 5.1 per cent in August from 25.9 per cent in July.
Overall seasonally adjusted demand in August went up 12 per cent from December last year, but was down 16 per cent over April 2008 when the decline commenced. According to IATA forecasts, average international freight will grow 5.5 per cent in 2010 after falling 14.5 per cent this year.
IATA chief Giovanni Bisignani said there was a need to change "antiquated rules, which restrict access to markets and to international capital."
"This industry needs to operate as a normal business. Liberalisation of ownership rules could be a lifeline for airlines as we approach a difficult fourth quarter," he said.


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