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Chinese New Year, US port delay boost Feb air freight
[BERLIN] Global air freight volumes rose 11.7 per cent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.
Freight volumes traditionally increase in the weeks leading up to the holiday, which last year occurred in January, while congestion at US ports also boosted the results.
Asia-Pacific carriers saw freight volumes rise 20.8 per cent, while North American carriers reported an 8.7 per cent rise.
"There is also evidence that significant automotive exports from Japan to the US shifted from sea to air," IATA said in its monthly statement on freight volumes.
IATA said the growth seen in February would not be repeated, confirming a forecast for freight volumes to rise by between 4 and 5 per cent this year.
"Business confidence improved slightly and trade continues to grow," IATA Director General Tony Tyler said in a statement.