The International Air Transport Association (IATA) announced international scheduled traffic statistics for May which showed a 34.3 per cent jump in freight demand and an 11.7 per cent increase in passenger traffic and compared to May 2009. “Demand rebounded strongly in May following the impact of the European volcanic ash fiasco in April. Passenger traffic is now 1 per cent above pre-recession levels, while the freight market is 6 per cent bigger,” said Giovanni Bisignani, IATA’s director general and CEO. The strong surge in cargo traffic outstripped a capacity increase of 12.3 per cent, pushing load factors to a record high of 55.7 per cent (56.3 per cent when adjusted for seasonality). Latin American and African carriers recorded the fastest increases at 60.2 per cent and 58.2 per cent respectively. Asia-Pacific airlines, which represent the largest market share (45 per cent) grew by 38.7 per cent compared to the previous May on the strength of resurgent regional manufacturing. North American and Middle East airlines posted a similar growth of 35.3 per cent and 38.6 per cent respectively. European carriers showed the weakest growth at 21.9 per cent . It is anticipated that the 15 per cent fall in the value of the Euro will stimulate outbound traffic with cheaper European exports, IATA said.