Africa has bucked the trend when it comes to air cargo growth, becoming the only region to see an increase in demand measured in freight tonne kilometers (FTKs) in June, according to data released by the International Air Transport Association (Iata).
Global demand decreased by 4.8% in June compared to the same period in 2018, marking the eighth consecutive month of year-on-year decline.
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, says Iata. “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.
“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,” said Alexandre de Juniac, Iata director general and CEO.
African carriers reported an increase in demand of 3.8% compared to the same period a year earlier, making it the strongest performer for the fourth consecutive month. Route analysis shows that the Africa-Asia performance is strong—up 12% year-on-year.
