IATA: Air traffic decline continues

 The International Air Transport Association said air cargo volumes were down 7.9 percent during October, dragging year-to-date air freight volume to 0.8 percent below the same period in 2007.

   Forecasted declines in key air cargo sectors such as semi-conductors indicate that weakness is expected to continue.

   IATA gave these details:

   Asia-Pacific carriers, which account for 44.7 percent of the international cargo market, saw international freight traffic decline 11 percent reflecting the sharp drop in the region's exports.

   North American and European carriers saw less precipitous declines of 7.6 percent and 5.4 percent, respectively.

   African carriers saw a 3 percent improvement in cargo during October, reflecting trade growth within Africa.

   Latin American carriers saw an 11.4 percent largest decline.

   Middle Eastern carriers saw 1 percent growth in October.

   The group said international passenger air traffic for October showing a second consecutive month of global decline. International passenger traffic declined 1.3 percent compared to the same month in the previous year -- a smaller decline than the 2.9 percent drop experienced in September. The October load factor was 75 percent, about 2 percentage points below previous year levels. 

Source: American Shipper