Air freight demand rose 8.2% in October, IATA says

Demand for global air freight rose 8.2% in October compared with 2015, the fastest growth in 18 months IATA said in its monthly report. Capacity in available freight tonne km increased by 3.6% over the same period. IATA says demand picked up due to a shift to air cargo following the collapse of the Hanjin Shipping Company in August, and as a result of weak market conditions earlier in the year. “Global air freight markets look set to end 2016 on a high note. It remains to be seen how long this growth trend will endure… but there are some encouraging signs”, IATA Director General Alexandre de Juniac said. Geographically, Europe posted the strongest gains in October with demand up 13.4%. The Middle East had a 9.2% boost in volume, with Asia-Pacific seeing a 7.8% increase. North America in contrast managed only a 3.7% increase in the period.<br/>