Global traffic results for May from the International Air Transport Association (IATA) continued to show a general downward trend in tune with the deteriorating global economic conditions.
The freight demand was 1.9 per cent below the previous year levels. Compared to April, the freight market contracted by 0.4 per cent. Freight markets hit a low during the fourth quarter of 2011 and since then, they have basically moved sideways with just a 1.5 per cent improvement on that level by May. The freight load factor stood at 45.3 per cent, unchanged from the previous month but 1.2 percentage points below May 2011 levels.