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Fall in air cargo hits Middle East stars where demand halves in April
AIR cargo carriers in the Middle East saw demand halve in April, after collectively registering growth of 7.7 per cent on a capacity increase of 11 per cent, according to data from the International Air Transport Association (IATA).
"This reflects both a slowdown in network expansion by the region's main carriers over the past six months and weak trading conditions," IATA's statement said.
Globally, IATA said freight markets recorded a 3.2 per cent increase in demand measured in freight tonne kilometres compared to the same period last year.
Yields remained under pressure as April freight capacity (measured in available freight tonne kilometres) rose 6.6 per cent year on year.
The increase in demand was broad-based across all regions with the exception of Latin America. The strongest growth occurred in the Middle East and Europe, where demand rose 6.8 per cent year on year.
"While the April uptick in demand growth for air cargo is encouraging, the overall economic environment is not. The decline in global trade does not bode well for air cargo markets in the months ahead," said IATA's director general Tony Tyler.
"This reflects both a slowdown in network expansion by the region's main carriers over the past six months and weak trading conditions," IATA's statement said.
Globally, IATA said freight markets recorded a 3.2 per cent increase in demand measured in freight tonne kilometres compared to the same period last year.
Yields remained under pressure as April freight capacity (measured in available freight tonne kilometres) rose 6.6 per cent year on year.
The increase in demand was broad-based across all regions with the exception of Latin America. The strongest growth occurred in the Middle East and Europe, where demand rose 6.8 per cent year on year.
"While the April uptick in demand growth for air cargo is encouraging, the overall economic environment is not. The decline in global trade does not bode well for air cargo markets in the months ahead," said IATA's director general Tony Tyler.
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