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IATA reports continued slow air freight growth in September

IATA reports continued slow air freight growth in September

   Geneva-based International Air Transport Association said Monday that growth in worldwide air freight traffic remains below trend in September, with a 1.8 percent year-on-year increase in freight-ton kilometers.

   “The continued slowing in freight volumes indicates that high oil prices are taking a bite out of economic activity,” said Giovanni Bisignani, IATA’s director general and chief executive officer.

   The marginal increase in September brought the average growth in worldwide traffic after nine months to 3 percent.

   In September, air traffic in North America declined 4.8 percent, when measured in freight-ton kilometers. For the year-to-date, freight traffic in North America has declined 0.3 percent.

   At the same time, IATA released its forecast for a 6.3 percent average annual growth rate for international air freight tonnage for 2005-2009. Freight traffic on markets connected with North America are all expected to rise, with the transpacific market predicted to grow 6 percent, the North Atlantic market by 4.6 percent and North America to Latin America by 3.7 percent.

   IATA expects China to see the steepest air freight growth of any individual country with a growth rate of 14.4 percent.

   Overall, international air freight volumes are expected to grow from the 25.2 million tons in 2004 to 34.2 million tons in 2009.