International air freight posts double-digit gain in June
Volumes topped pre-recession peak in early 2008.
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CommentInternational air-freight activity continued its upward trajectory in June, posting a 26.5-percent gain from the same period in 2009, the International Air Transport Association (IATA), the leading international airline trade group, said July 28.
The gains were below the 34-percent increase reported in May, results that IATA regarded as "exceptionally high" because cargo that had been grounded in April as a result of ash plumes from the Icelandic volcano had been shifted to May.
In all, volumes in June represent a 6-percent increase over the pre-recession peak in early 2008, IATA said. The strongest year-over-year growth came from Africa, with a 54-percent gain. That was followed by Latin America, the Middle East, and Asia-Pacific, with increases of 44.9 percent, 39.6 percent, and 29.8 percent, respectively. North American airlines posted traffic gains of 24.2 percent.
European airlines brought up the rear with a 15.3-percent gain, hampered by the impact of the sovereign debt crisis and slower economic growth. European volumes are 5 to 6 percent below their pre-recession peak, IATA said.
The euro's weakening value should be a boon to European exporters as it makes the value of their goods cheaper on world markets. The lower currency value should eventually drive up freight volumes, IATA said.
More articles by Mark B. Solomon
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