May 29, 2013 / 10:30 AM / in 4 years

Air freight market stabilized in April after reversing in March

GENEVA (Reuters) - The global air freight market recovered slightly in April after a long-awaited recovery stalled in March, the International Air Transport Association (IATA) said on Wednesday.

International Air Transport Association (IATA) director general Tony Tyler listens to a question at a news conference after the 68th IATA annual general meeting, in Beijing June 12, 2012. REUTERS/Jason Lee

International freight traffic grew 1.2 percent from April 2012 and was 0.8 percent up from March, but growth remained weak overall, IATA said.

“We saw a brief rally in cargo markets at the end of 2012. But that has clearly stalled,” IATA’s director general Tony Tyler said in a statement.

“Fortunately, the small improvement in April means that economic conditions have not deteriorated to the point of starting a market contraction. And if we look to emerging markets - particularly Latin America and the Middle East — we do see some encouraging signs of growth.”

Reporting by Tom Miles, editing by Robert Evans

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