IATA said the contrast between the performance of freight and passenger markets provides a mixed picture for industry performance. Seasonally adjusted figures show passenger traffic expanded 2.1 percent while freight markets contracted by an equal 2.1 percent.
'While freight markets were expected to weaken towards year-end, September's decline was larger than anticipated,' IATA said. 'Consumer and business confidence remains weak in many parts of the world. Restocking lifted freight markets earlier in the year, but this has not been followed by spending to solidify the economic recovery. Compared to September 2009, freight capacity has increased 11.9 percent, below the 14.8 percent increase volumes, pushing cargo load factors to 52.4 percent.
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| Bisignani |
September marked the second consecutive month of seasonally adjusted declines in freight demand (down 1 percent in August) and freight volumes are 6 percent below their May peak.
As has been the trend throughout the air freight recovery, Asia-Pacific carriers are leading the resurgence, with a 15 percent increase in freight demand in September, compared to 11.1 percent in Europe and 13 percent for North American carriers. Middle East carriers saw freight demand rise 24 percent.
'The industry's situation is volatile,' Bisignani said. 'Passenger traffic represents about three quarters of the industry's revenues. While September's passenger growth is reassuring, the accelerating decline of air freight, including in Asia, is an early indicator of some turbulence ahead. Government actions can impact the sustainability of the recovery. Austerity measures will dampen demand. When combined with new or increased taxation, as we have seen in Germany and the U.K., the challenges are even greater.'
