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Mideast carriers post 14.4% rise in FTKs in July

According to figures released by the International Air Transport Association (IATA), global air cargo traffic results for July showed a continuation of the modest improvement trend experienced in June. Global freight tonne kilometres (FTKs) rose 1.2% year-on-year in July, slightly better than the 0.9% year-on-year increase recorded in June, as growth in Europe and the Middle East offset weakness in Asia. Middle East airlines led all regions with a 14.4% year-on-year rise in FTKs and 11% increase in capacity. The Middle East was one of just two regions in which airlines saw demand growth exceed capacity growth. Part of the rise was due to the timing of Ramadan, which took place mostly in July 2013, while in 2012, most of the holiday occurred in August. Ramadan typically gives a boost to air freight demand for Middle Eastern carriers, as air transport of perishable foods and gift parcels increases to/from the region.