New figures mark a turbulent H1 in the continent
Airports across Europe have seen growth stutter in June, which marks a turbulent H1 in the continent.
The Airports Council International’s (ACI) latest figures for Europe exhibit a 1.6% year on year increase in cargo traffic for June, 2018.
H1, 2018 has witnessed a 3.3% increase.
Olivier Jankovec, director general of ACI Europe, said: “Looking ahead beyond the summer, the diminishing growth in freight traffic points to the economic risks from trade disputes and their escalation.
“Higher prices, disrupted supply chains and wavering exports are likely implications – which would inevitably end up affecting demand for air transport.
“The increasing odds of a ‘no-deal’ Brexit scenario are just adding to the stress – and could soon start weakening consumer confidence.”
‘Brexit’ refers to the impending exit of the United Kingdom from the European Union, which is due to officially happen in 2019.
While the exact ramifications of the move are not yet clear, trade analysts remain cynical that it will have a positive effect for Britain or Europe.
The ACI has also recently reported that global passenger traffic growth remained strong in April, 2018 with a 6.1% increase on a year-over-year basis, just below its 12-months rolling average of 6.5%.
Although growth in passenger traffic remains robust, the month of April marked a slight departure from the recent months’ high growth levels mainly due to the timing of this 2018’s Easter period.
ACI’s month-by-month passenger and freight statistics are based on a significant sample of airports that provide regular reports and form part of one of the world’s most comprehensive sources for airport data.
Freight volumes experienced a global growth rate of 4.5% following a slower month of March.
Read more: Air Cargo Growth Takes May Hit