Global air freight demand improved by 1.6 percent, year over year, in November after experiencing a 2.6-percent decline during the previous month, according to recently released data from the International Air Transport Association.
The organization anticipates worldwide cargo growth of 1.4 percent in 2013.
Even though air freight has seen some improvement, IATA head Tony Tyler expressed a note of caution.
“It is premature to consider this a turning point for air cargo markets in terms of bouncing back and regaining lost ground,” he said in a statement. “But when coupled with positive economic developments in the U.S. and an improvement in business confidence in recent months, the conditions are aligning to see a return to growth in 2013.”
In November, North American carriers increased their international and domestic air freight by a combined 1.7 percent on a 0.6-percent capacity cut. This combination of single-month cargo growth and low capacity was far outpaced, however, by Middle Eastern carriers and Asian carriers.
Tyler attributed some of November’s air cargo increase to holiday shipping, but noted that a portion of the global year-over-year increase reflects an unusually negative number from November 2011 due to the Thai floods. - Jon Ross