IATA has released cargo e-chartbook for Q2 2010. The financial situation for the air cargo business appears to be improving significantly – US cargo airline profitability is back to pre-recession levels in 2009Q4. Freight volumes which were temporarily interrupted by ash plume had grown at 26% annualised pace in 2010Q1.
Cargo yields continued to improve into the first quarter of this year, boosting revenues by an estimated 30% to 40%. But the fall in early 2009 was very severe so cargo revenues are still around 5% below pre-recession levels.
There is considerable variation by directional and geographical market in the strength of both volumes and yields. In spite of the problems facing Europe, most analysts have upgraded their forecasts for world economic growth in 2010, including the IMF who now expects growth of more than 4%. In Asia, China and India, continue to be the world’s growth hotspots in 2010. But other regions such as South America and the Middle East are expected to generate 4-5% growth. Prospects for the US economy have been improving. Europe is forecast to be the weakest region in 2010.
