Global air freight markets remain relatively weak as compared to passenger traffic which saw a 6.0 per cent growth in September year-on-year, according to the latest statistics from the Airports Council International (ACI).

An emerging market slowdown led by China has resulted in more subdued growth in air freight volumes across the world’s markets with global air freight volumes increasing by just 1.4 per cent year-on-year for the month of September. On a year-to-date basis, volumes rose by 2.3 per cent across the globe for the first three quarters of 2015.

Hong Kong (HKG), the world’s major international freight hub, reported modest gains of 1.1 per cent in September. The major Chinese hubs, Shanghai (PVG) and Beijing (PEK), were flat with respect to year-on-year changes in volumes.

The Asia-Pacific region as a whole experienced a slight gain of 0.5 per cent in air freight traffic in September while stronger economic fundamentals in advanced economies saw North American air freight hubs achieving the greatest gains in volumes for the month of September. With growth of 4.4 per cent in air freight volumes, much of the cargo increases in the region can be attributed to the boost in internal domestic demand.

Whereas North America’s international freight inched up by only 0.9 per cent, the region’s domestic air freight market grew by 6.9 per cent year-on-year in September. Memphis (MEM), a major FedEx hub, and Louisville (SDF), the UPS hub, each experienced an increase of 5.7 and 6.6 per cent respectively in terms of year-on-year growth in volumes.