What Is The Trend For Global Air Freight Markets?
The International Air Transport Association (IATA) released data for global air freight markets showing air cargo growth accelerated in May, with 4.7% growth compared to a year ago. This is up from the 3.8% year-on-year growth recorded in April. Cargo volumes, measured by Freight Tonne Kilometers (FTKs) were up across all regions. The Middle East carriers reported 9.3% year-on-year growth, whereas the corresponding growth rate for North American carriers stood at 2.4%. The acceleration of growth reflects improved economic conditions. There are indications that world trade and business confidence to be improving after weakness in the first quarter.