Airfreight market on recovery path with Oct traffic up 4%
Load factors show signs of bottoming out after a year of declines: Iata
[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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Hyundai Motor plans to add hybrids to US plant within current investment
Boeing cargo plane lands in Istanbul without front landing gear, no casualties
Uber shares tumble on surprise net loss, weak second-quarter forecast
New law increases control of ownership, management of critical transport firms in Singapore
Premium for big car COEs tops S$105,000 while that for mainstream cars hovers below S$95,000
Toyota sees 20% full-year profit decline after blockbuster Q4