Global international cargo
traffic plummeted 22.6% in
December last year compared
to the same month in 2007,
according to figures released by
the International Air Transport
Association (Iata).
International passenger traffic
showed a 4.6% drop.
For the full-year 2008,
international cargo traffic was
down 4.0%, passenger traffic
showed a modest increase of
1.6%, and the international load
factor stood at 75.9%.
“The 22.6% free fall in
global cargo is unprecedented
and shocking. There is no
clearer description of the
slowdown in world trade. Even
in September 2001, when
much of the global fleet was
grounded, the decline was
only 13.9%,” said Giovanni
Bisignani, Iata’s director
general and CEO. Air cargo
carries 35% of the value of
goods traded internationally.
The collapse in the airline
industry’s freight business is a
reflection of 20-30% declines
in export and import volumes
being reported across Asia,
North America and Europe as
the global recession reached
new depths in December.
Asia-Pacific carriers,
accounting for 45% of
international cargo, led the
December decline with a 26.0%
contraction compared to the
previous year. Latin American
carriers saw cargo drop 23.7%;
North American carriers 22.2%
and European carriers 21.2%.
Single-digit declines were
recorded by Middle Eastern
carriers (-9.2%) and African
carriers (-8.0%)
“2009 is shaping up to be
one of the toughest years ever
for international aviation. The
22.6% drop in international
cargo traffic in December puts
us in uncharted territory and the
bottom is nowhere in
sight. Keep your seatbelts
fastened and prepare for a
bumpy ride and a hard landing,”
said Bisignani.
Airlines registered a
US$5 billion loss in 2008.
For 2009 Iata is forecasting a
further loss of US$2.5 billion
based on a fuel price of US$60
per barrel, a decline of 3.0%
in passenger volumes, a drop
of 5.0% in cargo traffic and
yield deterioration of 3.0%.
Industry revenues are expected
to contract by US$35 billion
(from US$536 billion in 2008
to US$501 billion in 2009).
Air cargo in 22.6% free fall in December
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