Air freight markets were up 5.9 per cent in March compared to a year ago and capacity grew 3.4 per cent, according to the latest data from the International Air Transport Association (IATA).
While this marks a significant improvement in volumes compared to March 2013, much of the growth took place in the final quarter of 2013 (over and above the usual year-end volume growth), IATA said.
Since the beginning of the year, air cargo volumes have been flat. This plateau in volumes is consistent with the recent pause in improvements to business confidence and world trade.
"Cargo markets had a boost in the last quarter of 2013, but have now levelled off. It is a competitive industry with growing capacity chasing weak demand. The business cycle will eventually swing upwards.
"But the air cargo industry also needs to improve its value proposition if it is to attract growth when markets improve. Modernising air cargo processes and infrastructure offers the potential to cut end-to-end shipping times by up to 48 hours," said IATA director general Tony Tyler.
The data shows international air freight volumes were up by 6.7 per cent in terms of freight tonne kilometres (FTK) in March compared to the same month a year earlier. Domestic volumes were up 0.8 per cent.
In March Asia-Pacific carriers grew 6.9 per cent compared to a year ago, while European airlines expanded by 5.1 per cent. North American carriers grew 1.9 per cent year on year. Middle Eastern carriers saw a 13.2 per cent year-on-year rise in FTK volumes.
Latin American air freight volumes were flat, and African airlines expanded 5.9 per cent compared to March 2013 but growth in the region remains volatile.
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