International Air Transport Association (IATA) global traffic results for February 2012, released today (April 3), show a 5.2 per cent rise in cargo demand compared to the prior year period.
But several factors inflated February 2012 results and distorted comparisons with the year-ago period, IATA said.These included weaker traffic during the Arab Spring last year and the Brazilian carnival this year – held a month earlier than in 2011.
Cargo demand demand was also subject to positive distortion by the occurrence of Chinese New Year in January which pushed some deliveries into February.
When compared to January 2012 levels, the picture is moderate, IATA said, with cargo demand declining by 1.2 per cent.
IATA director general and CEO Tony Tyler warned that the outlook for the air industry is 'fragile'.
'Improvements in business confidence slowed in February,' he said. 'This... implies that an uptick for cargo is not imminent. At the same time, airlines trying to recoup rising fuel costs could risk reduced volumes on price sensitive market segments. Weak economic conditions and rising fuel costs are a double-whammy that in industry anticipitaing a 0.5 per cent margin can ill-afford.'
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