Global freight tonne kilometers (FTKs) were up 1.2 percent in July year-on-year, slightly better than the 0.9 percent year-on-year increase recorded in June, as growth in Europe and the Middle East offset weakness in Asia. As a result of the July performance, airfreight volumes are at their highest level since mid-2011. Capacity increased 3.4 percent versus July 2012, pushing load factor down to 43.3 percent. However, load factors have stabilized compared to earlier in 2013.

"The growth is encouraging, particularly in Europe. However, it is premature to say that air cargo may be emerging from the doldrums of the past 18 months. The weakness in Asia-Pacific freight markets and the deteriorating political situation in parts of the Middle East give ample reason for continued caution," said Tony Tyler, IATA's director general and CEO.

Read Full Article