International air freight traffic weakens in September: report

GENEVA — International air freight traffic recorded a 14.8% year-on-year increase in September, significantly weaker than the 19.0% rise recorded in August, according to a report from the International Air Transport Association (IATA). Seasonally adjusted figures show freight markets contracted by an equal 2.1% in September compared to the previous month.

“While freight markets were expected to weaken towards year-end, September’s decline was larger than anticipated,” IATA officials said in a release. “Consumer and business confidence remains weak in many parts of the world. Re-stocking lifted freight markets earlier in the year, but this has not been followed by spending to solidify the economic recovery.”

Compared to September 2009, freight capacity has increased by 11.9%, below the 14.8% increase volumes, pushing cargo load factors to 52.4%.

“The freight numbers are worrying. Freight activity has fallen 6% since May’s post-crisis peak. What we see in air cargo markets is inevitably reflected in the broader economy,” said Giovanni Bisignani, IATA’s director general and CEO.

North American air carriers recorded a 13.0% growth in September, down from the 21.2% recorded in August, which leaves the region 1% below pre-recession levels.

As international air cargo accounts for 35% of the value of goods traded internationally, it is a leading indicator of economic activity, according to IATA officials.