IATA: air freight in decline for eighth consecutive month
Signs of a modest recovery in recent period appear to have been premature
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 4.8% in June 2019, compared to the same period in 2018. This marks the eighth consecutive month of year-on-year decline in freight volumes.
Signs of a modest recovery in recent months appear to have been premature, with the June contraction broad-based across all regions with the exception of Africa. Capacity growth remains subdued and the cargo load factor continues to fall. Globally, trade growth is languishing, and business uncertainty is compounded by the latest tariff increases in the US-China trade dispute.
Airlines in Asia-Pacific and the Middle East once again suffered the sharpest declines in year-on-year growth in total air freight volumes in June 2019. Africa was the only region to show any growth.
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