Capes propped up by China market sentiment
Asia-Pacific pulls global airfreight out of nosedive
The Asia-Pacific region was the major shining light in an otherwise dark 2009 for airfreight, International Air Transport Association figures show.
Improved signs: Asia-Pacific carriers account for 60% of growth in global airfreight demand
More than 60% of the growth in global airfreight last year has been attributed to Asia-Pacific carriers, despite the region accounting for only 45% of the market.
Nevertheless, the region's carriers still saw freight volumes remain 8% below the peak in 2008 but fared significantly better than Europe (down 20% from the 2008 peak).
Middle East and Latin American carriers make up less of the market but ended the year strongly, up 7% and 21% respectively.
IATA said airfreight demand in December actually improved 24.4% compared with December 2008, but the figure is exaggerated because the end of 2008 was the lowest point in the economic downturn for freight.
Global demand for air cargo is 9% below the peak level experienced in early 2008.
IATA director general and chief executive Giovanni Bisignani said 2010 would bring "enormous challenges" for aviation.
"The worst is behind us, but it is not time to celebrate," Mr Bisignani said.
"Adjusting to 2.5-3.5 years of lost growth means that airlines face another spartan year focused on matching capacity carefully to demand and controlling costs."
