After posting a 16 percent, year-over-year, increase in cargo demand in July, Middle Eastern carriers continued their growth trend in August, reporting an 11.3 percent, year-over-year, rise in airfreight traffic. Such growth bucked the global trend, however; comprehensively, cargo carriers recorded a 0.8 percent, year-over-year, decline in airfreight demand in August despite offering 0.4 percent more capacity.
The International Air Transport Association, which complied the data, explained in a press release that global economic weakness continues to threaten freight markets, despite their slight recovery earlier this year. Carriers’ August performance, IATA said, reflects a lack of business and consumer confidence.
“Passenger markets have not grown since June and global airfreight volumes are below previous year levels,” Tony Tyler, IATA Director General and CEO, said in a statement. “In the face of these adverse conditions, disciplined capacity management has kept load factors high. There are always opportunities and some parts of the world are growing. But, overall, trading conditions are tough.”
Adverse conditions or not, North American carriers recorded slight cargo growth in August, despite slashing capacity by 2.3 percent, year-over-year. These airlines enjoyed a 2-percent, year-over-year, surge in freight traffic last month, despite seeing volumes plunge 3.6 percent, year-over-year, in July.
After seeing cargo demand rise steadily throughout the year, African freight carriers posted another strong performance in August. Carriers in this region recorded a 10.2-percent, year-over-year, increase in traffic, amid an 8.1-percent, year-over-year, capacity surge.
Airfreight demand stalled in every region, however. Asia-Pacific cargo carriers saw the most marked declines in August, reporting a 5.5-percent, year-over-year, plunge in freight demand on a 3.1-percent, year-over-year, capacity drop.
European and Latin American carriers also recorded lower airfreight activity last month. Cargo demand in Europe slowed 0.8 percent, year-over-year, in August, despite regional carriers offering 1.9 percent more capacity than in August 2011. Latin American carriers saw a much more drastic contrast between supply and demand, however; freight volumes in Latin America declined 3.9 percent, year-over-year, in August while capacity climbed by 14 percent, year-over-year.