International airfreight volumes dropped between August and September this year, while passenger numbers climbed, according to the International Air Transport Association (Iata). International freight traffic recorded a 14,8% year-on-year increase, which is “significantly weaker” than the 19% rise recorded in August, says Iata.While freight markets were expected to weaken towards year-end, September’s decline was larger than anticipated. “The freight numbers are worrying. Freight activity has fallen 6% since May’s post-crisis peak. What we see in air cargo markets is inevitably reflected in the broader economy,” said Giovanni Bisignani, Iata’s Director General and CEO. As international air cargo accounts for 35% of the value of goods traded internationally, it is a leading indicator of economic activity, he says. “Consumer and business confidence remains weak in many parts of the world. Re-stocking lifted freight markets earlier in the year but this has not been followed by spending to solidify the economic recovery,” his statement adds. Compared with September 2009, freight capacity has increased by 11,9% – below the 14,8% volume growth, pushing cargo load factors to 52,4%. The only area showing growth is the Middle East, where carriers are transporting a third more freight than they did prior to the recession. Asia-Pacific carriers reported the biggest drop in demand, with a 15% increase in freight demand over the previous year, a significant decline from the 22% growth recorded in August. In contrast, there was a 10,5% year-on-year increase in passenger traffic, which is “significantly stronger” than the 6,5% rise recorded for August, says Iata.
