Global body sees sharp declines witnessed in all major regions, bar Africa
The International Air Transport Association (IATA) has 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, marking 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.
Alexandre de Juniac, IATA's Director General and CEO, said: "Global trade continues to suffer as trade tensions—particularly between the US and China—deepen.
“As a result, air cargo markets continue to contract. Nobody wins a trade war. Borders that are open to trade spread sustained prosperity. That's what our political leaders must focus on."
Airlines in the Middle East faced difficulty again, suffering 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, while Asia-Pacific airlines saw demand for air freight contract by 5.4% in June 2019 year-on-year.
Other key regions scored as follows:
Read more: Passenger Demand Accelerates in June