More good news on the air cargo statistics front. Global air freight markets exhibited a third consecutive month of signifi cant demand growth in September as collective volumes rose 5.2 per cent year-on-year, according to IATA’s air freight market analysis. In particular the modest but encouraging comeback of Asia-Pacifi c and North American air freight markets appears to be signaling an accelerating air cargo demand.
Th e only downside is the 1.6 per cent year-on-year drop in European carriers’ air freight traffi c which represents a signifi cant 25.8 per cent of the overall market share. A number of key factors – from general uncertainty in the European economy, pilot strikes to the downward economic and trade pressure as a result of the ongoing Ukraine-Russia confl ict – all threaten to continue curtailing cargo growth going forward.
Overall the air cargo market recovery is probably a healthier version than what the industry experienced in 2010 when the market pretty much burst lose like a bull at rodeo. Slower more measured growth allows the industry to approach it with a more measured, circumspect approach. But while most of the industry – save quite a number of European carriers – are quietly, cautiously lauding the evolving market recovery, it is still quite unclear where exactly the market is going.