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Chinese New Year, U.S. port delay boost Feb air freight

Reuters - UK Focus

BERLIN, April 1 (Reuters) - Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

Freight volumes traditionally increase in the weeks leading up to the holiday, which last year occurred in January, while congestion at U.S. ports also boosted the results.

Asia-Pacific carriers saw freight volumes rise 20.8 percent, while North American carriers reported an 8.7 percent rise.

"There is also evidence that significant automotive exports from Japan to the US shifted from sea to air," IATA said in its monthly statement on freight volumes.

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IATA said the growth seen in February would not be repeated, confirming a forecast for freight volumes to rise by between 4 and 5 percent this year.

"Business confidence improved slightly and trade continues to grow," IATA Director General Tony Tyler said in a statement. (Reporting by Victoria Bryan; Editing by Georgina Prodhan)