US air freight falls 21pc in February, same as in January

US airlines have suffered a decline of 21.2 per cent in air freight volumes transported in February, the lowest industry level in eight years, according to figures from the Air Transport Association (ATA).

The drop in demand marks the fourth straight double-digit slide reported by ATA. The February result was almost unchanged from January's 21.3 per cent fall and included accelerating declines in transatlantic and Latin American trade, reports the Newark's Journal of Commerce.

It said the decline in domestic volume has also accelerated, falling 18.4 per cent compared to February 2008.

The report said the latest traffic levels based on cargo ton miles are at their lowest since the mid-1990s.

International traffic in February decreased by 23.6 per cent year on year, an improvement on the record 25.4 per cent drop that business suffered in January. Trade volumes with Asia were down 25.7 per cent in February.

The transatlantic trade, which has become the airlines' largest international market following the collapse of Asia exports, was said to have dropped by 20.9 per cent, the sharpest decline on the Atlantic since the 9/11 terror attacks in 2001.

Source: Schednet