The International Air Transport Association (IATA) has shown that air flight demand has risen by 3.1% in October. Capacity grew by 5.4%.

According to IATA the pace of growth was up a 29-month low of 2.5 per cent in September. However, October was the eighth month in a row that capacity growth outstripped demand.

One of the key drivers of air freight growth was international e-commerce and the global investment cycle.

Demand however has been depressed by a contraction in export order, longer supplier delivery times in Asia and Europe, and weakened consumer confidence.

IATA director general Alexandre de Juniac said: “Cargo is a tough business, but we can be cautiously optimistic as we approach the end of 2018. Slow but steady growth continues despite trade tensions. The growth of e-commerce is more than making up for sluggishness in more traditional markets. And yields are strengthening in the traditionally busy fourth quarter. We must be conscious of the economic headwinds, but the industry looks set to bring the year to a close on a positive note.”