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  Volume: XX, Issue No. 02 September 1-15, 2010  
     
 
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  Global air cargo tops pre-recession levels

_A Monitor Report
Geneva : Global air cargo traffic soared 34.3 per cent in May from a year ago and is now above pre-recession levels, the International Air Transport Association said.
The surge in freight volume outstripped a capacity incre-ase of 12.3 per cent, pushing the load factor to a record high of 55.7 per cent, the Geneva-based group reported in its latest monthly survey.

The freight market is 6 per cent above pre-crisis levels, outpacing a 1 per cent rise in global passenger traffic.

The increase in May followed a 26 per cent rise in April which was impacted by the six day closure of European air space by a plume of ash from an erupting Icelandic volcano.

Latin American and African carriers led the rally with year-on-year increases of 60.2 per cent and 58.2 per cent respectively in May.

Asia-Pacific airlines, which account for the biggest cargo sector with a 45 per cent world market share, boosted volume by 38.7 per cent from May 2009, just ahead of US carriers, which grew 35.3 per cent, and Middle East airlines, which were up 38.6 per cent.

European airlines continued to lag the rest of the industry with May traffic rising by 21.9 per cent, but the 15 percent fall in the value of the euro likely will stimulate outbound traffic with cheaper exports, IATA said.

Strong traffic growth is boosting the industry's bottom line with airlines expected to post a collective US$2.5 billion profit in 2010 compared with a US$9.9 billion loss in 2009.

"This is good news, but it is still only a 0.5 per cent margin. We are still a long way from sustainable profitability," said Giovanni Bisignani, IATA Director General and CEO.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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