For 2013, airlines are expected to return a global net profit of $12.9bn. This is expected to lead to a net profit of $19.7bn in 2014. Both are improvements on previous months. The upward revision reflects lower jet fuel prices over the forecast period as well as improvements to the industry's structure and efficiency. Passenger markets continue to outperform the cargo business, which remains stagnant both on volumes and revenues.

The air cargo industry's slow migration toward electronic documentation has led the International Air Transport Association to revise its internal deadlines for a second time.

There was a small improvement in airfreight growth in October, according to the International Air Transport Association. Compared to October 2012, global freight tonne kilometers rose four percent, with growth in all regions except Africa.

Boeing projects that airlines in the Middle East will need nearly 100,000 new pilots and technicians to support the expanding demand for new airplane deliveries over the next two decades.

Growth of the middle class in China and other emerging economies will contribute to the future of air cargo, said Des Vertannes, the global head of cargo at the International Air Transport Association.