The International Air Transport Association (IATA) announced international scheduled traffic results for July showing freight demand was down 11.3 percent.
This decline in cargo demand for July was also a relative improvement over the -16.5 percent recorded in June and the -19.3 percent average for the first seven months of the year.
All regions, except Africa, saw improvement in demand compared to June. The Middle East was the only region to grow.
Despite this improvement, the July freight load factor of 47.6 percent was lower than the 49 percent recorded in July 2008.
“Demand may look better, but the bottom line has not improved. We have seen little change to the unprecedented fall in yields and revenues. The months ahead are marked by many uncertainties, including the price of oil. The road to recovery will be both slow and volatile. In the meantime, the industry remains in intensive care,” said Giovanni Bisignani, IATA’s director general and CEO.
Cargonews Asia
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