Airfreight market on recovery path with Oct traffic up 4%

[SINGAPORE] The global air cargo market continues gradual recovery with the industry posting 4 per cent year-on-year growth in traffic in October, as most regions registered an expansion thanks to an improving business environment.

Global capacity was up 4.9 per cent, which caused freight load factor to come in at 46.4 per cent, according to a report by the International Air Transport Association (Iata). However, load factors are showing signs of bottoming out after a year of continued decline, Iata noted.

The airfreight market was also stronger in October compared to the month before, when traffic contracted 0.3 per cent.