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Global air freight demand fails to meet capacity in June: IATA
GLOBAL demand for air freight slowed again in June as world trade weakened and capacity outpaced demand, said the International Air Transport Association (IATA).
In its regular monthly air freight report, IATA said demand increased 1.2 per cent in June, compared with 2.1 per cent for May while capacity outpaced that at 5.3 per cent.
Last week, Lufthansa cut its outlook for its freight unit due to overcapacity and stuttering demand from China, noted Reuters.
"The remainder of the year holds mixed signals. The general expectation is for an acceleration of economic growth, but business confidence and export orders look weak," said IATA director general Tony Tyler, former CEO of Cathay Pacific Airways.
In its regular monthly air freight report, IATA said demand increased 1.2 per cent in June, compared with 2.1 per cent for May while capacity outpaced that at 5.3 per cent.
Last week, Lufthansa cut its outlook for its freight unit due to overcapacity and stuttering demand from China, noted Reuters.
"The remainder of the year holds mixed signals. The general expectation is for an acceleration of economic growth, but business confidence and export orders look weak," said IATA director general Tony Tyler, former CEO of Cathay Pacific Airways.
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