Air Cargo Growth Slows Considerably During October
Air cargo growth showed a significant decrease in October dropping from 4.9% in September to 2.3% in October.
The underlying reasons behind these lower numbers may be complex. IATA cites the comparison between the buoyancy of exports from Europe- up 11%- with only a 1.8% increase in European carriers’ airfreight. A similar picture is seen in the Asia-Pacific region. The CEO of IATA suggests that this may be caused by higher fuel prices, leading to only a temporary fall: “Some positive news is expected. As the recent fall in the price of oil works its way through the system, we can expect to see a boost in the freight traffic, particularly as we enter the fourth quarter which is traditionally the peak season.”
It will be interesting to see what the numbers look like for the remainder of peak season. Hopefully the October numbers are not a sign of what is to come.
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