During recent times the airfreight market has seen a steady decline in volumes and still remains relatively weak in comparison to other trading years but maybe the latest set of figures are showing that airfreight may be slowly turning the corner and heading up the runway to recovery.
The International Air Traffic Association (IATA) figure have been released for June showing a slight increase in airfreight volume by just 1.2% compared year on year which is a smaller growth margin than the airfreight community was expecting.
With growth at less than 1% in May the market is showing signs of recovery but the year to date figure is still only showing a 0.1% increase which is not great news for those involved within the airfreight sector but is this the start of a recovery???
Historically the trend for global economics has been defined by strong economies within emerging markets and the developed market standing still or declining but the recent airfreight figures buck this trend by showing that airfreight is improving across the developed markets at this moment in time.
25% of the increased airfreight volumes came from the European airlines as opposed to the Asia – Pacific market that is still the biggest airfreight market in the world and the North America trade lane actually lost almost 2% on volume.
Obviously its too early to say for sure if this is the start of recovery for airfreight but it is showing more positive signs as opposed to the last year and a half of decline.
To put it into perspective airfreight volumes are at their highest level since September 2011 but this is on the understanding that the global economy remains weak and the increase in airfreight traffic in June may be a peak as opposed to the start of a recovery.