IATA: Nov. Air Cargo Demand Up 5.5%; U.S. Drops 1.6%


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) - Global air cargo demand rose 5.5% year-on-year in 
November, with the North American market witnessing a 1.6% decline instead, the 
International Air Traffic Association (IATA) reported Thursday (1/8).

   Carrier capacity in North America also decreased by 2.3% year-on-year in 
November, IATA stated.

   Notwithstanding those declines, a couple cargo routes linked to North 
America grew last month, as did the air freight volume for many overlapping 
markets.

   The North America-Europe air cargo route, for instance, expanded by 5% while 
the Asia-North America air freight sector grew by 1.8%.

   IATA also noted that global jet fuel prices rose 5.9% in November despite 
falling crude prices, driven by refinery disruptions, European Union 
restrictions on Russian-derived products, and limited spare refining capacity.

   Those factors pushed crack spreads for jet fuel close to double of last 
year's levels, the international air traffic association added.




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