January global air freight demand Up 5%: IATA

Demand for global air freight in January 2013 rose five per cent over January 2012, the International Air Transport Association (IATA) said.

However, it said, the rise was from an exceptionally low base, caused by the timing of Chinese New Year, which occurred in February this year, skewing year-on-year comparisons as many Asian factories closed and last year the holiday period occurred in January.

"Year-on-year, capacity expanded by 2.1 per cent and the global load factor stood at 41.9 per cent," it said in a statement.

Its Director General and Chief Executive Officer Tony Tyler however said it is still too early to be optimistic despite encouraging signs in the air freight business.

"While the decline has stopped, overall volumes are still below the levels of 2010 and 2011. Load factors are low and the global economy is fragile.

"Our forecast remains for modest growth of 1.4 per cent. But with weak load factors, yields are going to continue to be under severe downward pressure," he added.