GENEVA, Mar 2 (GCTL) - The International Air Transport Association (IATA) announced that global airfreight recorded an 8% decline in air freight compared to the same month in 2011, and the decline in air freight stabilized in the fourth quarter of 2011, at levels 4% below the 2008 pre-crisis peak.
IATA’s Director General and CEO Tony Tyler said there was a 2.5% fall in global freight markets from December to January, but this is almost totally attributable to the impact of factory closures due to the Chinese New Year.
Freight capacity contracted by 0.6% year over year, and freight load factor fell to 41% (from 44.3% in January 2011) as deliveries of new widebody passenger aircraft offset measures to reduce freight capacity, he added.
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