IATA: freight makes weak start to 2019
The "World Cargo Symposium" will take place next week in Singapore
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased 1.8% in January 2019, compared to the same period in 2018. This was the worst performance in the last three years.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 4.0% year-on-year in January 2019. This was the eleventh month in a row that capacity growth outstripped demand growth.
Demand for air cargo continues to face significant headwinds. Global economic activity and consumer confidence have weakened. And the Purchasing Managers Index (PMI) for manufacturing and export orders has indicated falling global export orders since September 2018.
Only two of six regions reported year-on-year demand growth in January 2019 – North America and Africa. Asia-Pacific, Europe and the Middle East all contracted, while Latin America was flat.
World Cargo Symposium
The challenges and opportunities facing the air cargo industry will be discussed at the "13th World Cargo Symposium" which will gather the air cargo industry in Singapore, 12-14 March.
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