Global cargo demand gains 28.3% in January; capacity up 3.7%: Iata

(REUTERS)

Global cargo demand improved 28.3 per cent with 3.7 per cent increase in capacity in January 2010, the International Air Transport Association (Iata) yesterday said.

This pushed the cargo load factor to 49.6 per cent, which is a step-change from the 40.1 per cent recorded in January 2009.

Compared to the low point in the cycle (December 2008-January 2009), international freight traffic is still three-four per cent below the early 2008 peak level.

The sharp improvement in air freight in January, compared to December, is being driven by businesses re-stocking depleted inventories. "This part of the inventory cycle will not last much longer. Durable air freight growth will require consumers to start buying again and businesses to return to making investments. While these improvements are beginning to be seen in Asia, Europe and North America lag behind," Iata said in a statement.

Carriers in Europe stand out for their sluggish demand recovery with 11.6 per cent improvement in January compared to the previous year. Freight volumes are only seven per cent above the December 2008 low and 15 per cent below the cycle peak, it said.

Dubai airport last week said cargo registered its fourth consecutive month of double-digit rise with freight volumes surging 31.5 per cent. Dubai Airports handled 171,453 tonnes of freight in January 2010 compared to 130,375 tonnes during the same month in 2009.

Abu Dhabi Airports Company also said in January 2010 cargo witnessed a significant rebound, up 25.6 per cent over the same period last year.

 

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