Air freight volumes increase 1.9% in Europe
According to the Airports Council International (ACI) total air freight declined 0.7% in 2011 (see Ti Dashboard – Air Cargo: Global). Results varied from region to region with Asia-Pacific and North American airports registering declines of 1.9% and 1.8% respectively.
Surprisingly, ACI reported a 1.9% increase in total freight volumes in Europe. Volumes in Africa and Latin America were significantly stronger registering increases of 10.6% and 5.4% respectively, year-on-year. Total domestic freight declined 0.8%, while total international freight fell 0.7%.ACI's Director of Economics Rafael Echevarne commented: "Air freight...appeared to be more elastic or sensitive to the economic situation within countries and among trading partners. As governments slowly adopt the necessary austerity measures to deleverage their balance sheets, certain economies may experience an economic slowdown in the short run thereby having an impact on international trade. However, as business confidence resumes, so will global trade in air freight."