Air freight market stabilized in April after reversing in March


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

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"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)