Air freight demand picks up in June, grows 4.3 percent: IATA

Cargo is seen at HACTL SuperTerminal 1 at the Hong Kong International Airport April 20, 2010. REUTERS/Tyrone Siu/File Photo

BERLIN (Reuters) - Demand for air freight rose 4.3 percent in June, the fastest rate for 14 months, according to the International Air Transport Association.

Capacity rose faster than demand, at a rate of 4.9 percent, keeping yields under pressure, IATA said in its regular monthly update on Wednesday.

IATA cautioned against reading too much into June’s performance, given the prolonged downturn in cargo markets, which has forced air cargo companies to cut back fleets and seek new products and partnerships.

“Global economic growth remains sluggish, world trade volumes continue to trend downwards and the industry faces heightened uncertainty in the aftermath of the Brexit vote,” IATA head Tony Tyler said in a statement.

Reporting by Victoria Bryan; Editing by Tina Bellon