IATA: August air cargo growth up 5%

The rise in worldwide air freight comes after a 6% increase in July.    Worldwide airfreight tonnage in August rose 5.1 percent, year-over-year, on a 3.4-percent increase in capacity during the same time frame, according to the latest figures from the International Air Transport Association.
   IATA measured a 4.8-percent tonnage increase on international flights, while the average of all domestic flights around the world resulted in a 6.6-percent increase. So far this year, total tonnage has increased by 4.5 percent over 2013.
   The August rise comes after a total increase of 6.1 percent, year-over-year, in July.
   “The outlook for air cargo is clearly getting better,” Tony Tyler, IATA’s director general and chief executive officer, stated. “However, there are some limiting factors on the extent of potential gains. Demand for air cargo is growing more slowly than global economic activity. Businesses are reported to have more confidence in the future, but the list of political and economic risks continues to moderate how that confidence translates into actual activity.”
   Airlines in Africa reported a 9.2-percent, year-over-year, growth in tonnage, the second consecutive month of substantive growth. Capacity was up 4.2 percent.
   Middle Eastern carriers and airlines operating out of the Asia-Pacific are still toward the top of the pack in tonnage growth, with increases of 7.8 percent and 6.3 percent, respectively, during August. However, the Middle East saw capacity rise by 6 percent, and IATA noted that average tonnage growth for the year had been at a 9.6-percent growth pace. Capacity in the Asia-Pacific increased by 4.4 percent.
   In North America, tonnage rose by 5.5 percent compared to August 2013, while capacity decreased by 0.4 percent. IATA pointed out that “a rebound in business activity following the weakness in the first quarter and positive underlying economic growth trends should support stronger growth in the coming months.”