Global airline passenger traffic rose by 7.2 percent in August compared with the same month in 2016, the International Air Transport Association (IATA) reported. At the same time, the upward trend in seasonally adjusted traffic has slowed from that seen at the end of 2016, IATA said, citing the easing of important demand drivers, particularly lower fares.
Air freight volume rose in August, gaining 12.1 percent compared with the same month in 2016, according to IATA. This marked the fifth time in six months that double-digit annual growth was recorded.
The strong performance of air freight demand corresponds with the uptick in global trade, rising export orders, and upbeat business confidence indicators, according to IATA. The association added that signs that the peak of demand growth may be near also continue, although the outlook for air freight remains strong.
"Rapid growth in cargo demand means that cargo capacity is now growing in response to real cargo demand rather than automatically as carriers responded to passenger demand," said Alexandre de Juniac, IATA's Director General and CEO. "The pace of capacity growth, however, has slowed even as freighter fleets are being utilized more intensely. Overall, that should be good news for much beleaguered cargo yields."