Demand for air freight services continues to fall
November 1, 2011
Demand for air freight services fell in September for the fifth consecutive month.
The latest figures from the International Air Transport Association (IATA) show a 2.7% contraction last month, compared with September 2010.
This adds to the 2.4% year-on-year decline recorded in August.
IATA said falling freight demand was a trend in line with falling business and consumer confidence.
Freight volumes fell significantly across the third quarter, and by September, were 5% below those carried at the end of the first quarter.
Year-to-date, overall, air freight markets are just 0.1% up on the same period in 2010. African and Asian markets were down 3.1% and 3.9% respectively, while markets in Europe were up 2.6%, Latin America 6.4%, Middle East 8.4% and North America 1.3%.
Total freight traffic market share by region, in terms of FTK, are Asia-Pacific 40.5%, Europe 21.6%, North America 24%, Middle East 9.7%, Latin America 3% and Africa 1.1%.
