European economy is weak link in global aviation recovery
"Global air passenger and freight demand are rising, but both are still way below pre-crisis levels and Europe's weak economic recovery is pulling it behind international rivals.
...In the air freight market, Europe's lag is even more pronounced. Asia-Pacific's freight carriers saw a 14.5 per cent jump in demand, thanks to the success of stimulus packages in boosting industrial output. Latin America's 17.5 per cent growth, the Middle East's 21.4 per cent and the 13.6 per cent rise in the US are all linked to the rise in demand in Asia. Meanwhile, Europe's carriers recorded a 5.6 per cent fall in demand.
"Freight is a leading indicator that the world is starting to trade," said a spokesman for Iata. "There is some encouragement from freight traffic, but not in Europe, partly due to local economic conditions, partly because it is not a hub for the long haul routes into and out of Asia-Pacific."
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...In the air freight market, Europe's lag is even more pronounced. Asia-Pacific's freight carriers saw a 14.5 per cent jump in demand, thanks to the success of stimulus packages in boosting industrial output. Latin America's 17.5 per cent growth, the Middle East's 21.4 per cent and the 13.6 per cent rise in the US are all linked to the rise in demand in Asia. Meanwhile, Europe's carriers recorded a 5.6 per cent fall in demand.
"Freight is a leading indicator that the world is starting to trade," said a spokesman for Iata. "There is some encouragement from freight traffic, but not in Europe, partly due to local economic conditions, partly because it is not a hub for the long haul routes into and out of Asia-Pacific."
Full article...