The International Air Transport Association (IATA) announced global air cargo traffic results for July showing a continuation of the modest improvement trend experienced in June. Global freight tonne kilometres (FTKs) were up 1.2 per cent in July year-on-year, slightly better than the 0.9 per cent year-on-year increase recorded in June, as growth in Europe and the Middle East offset weakness in Asia.

As a result of the July performance, air freight volumes are at their highest level since mid-2011. Capacity increased 3.4 per cent versus July 2012, pushing load factor down to 43.3 per cent but IATA notes however, that load factors have stabilised compared to earlier in 2013.

“The growth is encouraging, particularly in Europe. However, it is premature to say that air cargo may be emerging from the doldrums of the past 18 months. The weakness in Asia-Pacific freight markets and the deteriorating political situation in parts of the Middle East give ample reason for continued caution,” said Tony Tyler, IATA’s director general and CEO.