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The International Air Transport Association said the month of October showed a 14.4 percent year-on-year increase in international air freight.
“As we approach the end of 2010, growth is returning to a more normal pattern. Freight is one percent above pre-crisis levels of early 2008. Where we go from here is dependant on developments in the global economy. The US is spending more to boost its economy. Asia outside of Japan is barrelling forward with high-speed growth. And Europe is tightening its belt as its currency crisis continues. The picture going forward is anything but clear, but for the time being, the recovery seems to be strengthening,” said Giovanni Bisignani, IATA’s director general and CEO.
Freight appears to be at a turning point. Since May, freight volumes have declined by five percent. October saw an end to the decline in freight with a slight uptick.
“But a single month does not make a trend. And it remains to be seen if this is the stabilisation in freight volumes or the start of an upward trend,” said Bisignani.
The 14.4 percent year-on-year increase in freight traffic for October was marginally weaker than the 15.5 percent recorded in September. Nonetheless, international freight volumes actually improved slightly from its September level on a seasonally adjusted basis.
Cargonews Asia
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