Latest figures from the International Air Transport Association show that air freight is still suffering from high fuel costs and lack of demand. June cargo volumes were 3% lower than the same month last year, and 1% lower than the year before.
Asia Pacific carriers, who are the biggest participant of the air freight market with a 40.5% market share, recorded the largest year-on-year decline in volumes – a 5.8% drop. This is mainly because of disrupted supply chains in the electronics and motor industries due to the Japanese earthquake and tsunami and slower economic growth in China.
“Air cargo continues in the doldrums, at 6% below the post-recession peak,” said Iata Director General and CEO Tony Tyler.