IATA: Timing of Lunar New Year and US Port Congestion Boosts February Air Freight

The International Air Transport Association (IATA) released February data for global air freight markets showing a sharp increase in year-on-year air freight volumes. Growth measured by freight tonne kilometers (FTK) was up 11.7% in February, compared to February 2014. Capacity grew 7.4%. Much of the impressive February result is due to the timing of the Lunar New Year activities. Air freight is given a strong boost in the weeks leading up to the holiday, which last year fell in January. In addition, air freight volumes were enhanced by the consequences of congestion at US West Coast ports. These factors showed