IATA said that improved cargo yields had boosted revenues 30 to 40 per cent in the first quarter, reported Reuters.
The volcanic ash cloud plagued European air space recently caused a temporary dip, but most regions are again experiencing 20 per cent growth or more, IATA said.
"Considerable momentum appears to remain for the near term," an IATA report concluded.
International trade in goods increased by 22 per cent year on year, and first quarter ocean freight volumes were up 20 per cent with yields up 50 per cent or more, IATA estimated.
"All ocean transport modes now show that world trade was rising very strongly in the first quarter of 2010," it said.
"Rising oil prices have been raising the unit value of ocean trade but air cargo has nonetheless maintained its share of value due to the recent strength of volumes, as shippers have switched from ocean to air as time became more important as the economy recovered," it said.
"Heads of cargo reported that they remained confident that revenues would continue to expand strongly over the next 12 months," the report said, citing an April business confidence survey among IATA members.
On the other hand, IATA warned that freight growth could slow in the second half of the year. "Manufacturers and retailers no longer need to ship goods to restock shelves and warehouses," it said.
"Freight growth in the second half of 2010 will slow and depend on how fast consumer and business capital spending grows."
Source : HKSG, 04.06.10.
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