October air freight hits snag, IATA says
Global airfreight demand fell by 3.5 percent year-over-year in October, and load factor fell by more than half a point, according to data released by the International Air Transport Association.
Most of the freight demand drop resulted from weakness in international flights, as domestic freight fell by slightly more than 1 percent. These declines in demand were matched by capacity cuts; compared to October 2011, international capacity fell by 2 percent in October, while domestic capacity was down by 2.9 points. These numbers follow a slightly positive September, which saw airfreight demand up by 0.9 percent, year-over-year.
Asia-Pacific airlines saw one of the biggest declines last month, according to the data, with airfreight demand falling 6.8 percent, while capacity decreased by 4.6 percent. North American, European and African carriers also experienced declines, with their airfreight activity falling by 5.3 percent, 4.3 percent and 0.5 percent, respectively. The drop in North American activity was offset by a 5.4-percent capacity reduction, year-over-year, while African carriers actually experienced a 2.7-percent rise in capacity when compared to the same period last year.
Middle East carriers experienced the largest year-over-year traffic growth at 13.4 percent, with capacity only rising by 8.6 percent. Demand for freight flown by Latin American airlines increased by 0.9 percent, but this was eclipsed by an 8.6-percent rise in capacity.
Passenger demand rose 2.8 percent year-over-year in October, backed by a 2.3-percent capacity increase, according to IATA data.
are managing the softer passenger demand environment by limiting
capacity growth to keep load factors high," IATA head Tony Tyler said in a statement. "But the rapid decline in
freight traffic is outrunning the industry’s ability to respond.”
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