Airfreight market seen flat this year

THE global airfreight market is expected to remain largely flat this year with growth of 0.9 per cent, although cargo traffic is expected to pick up next year and grow 3.7 per cent.

The industry is experiencing soft demand from the double whammy of weak economic conditions and increased capacity from the bellyhold of passenger aircraft, which are now bigger and more efficient.

Depressed load factors are being further worsened by competition.