The air cargo industry has made a less than auspicious start to 2019 posting its worst performance in the past three years.
According to data released by the International Air Transport Association (Iata), demand measured in freight tonne kilometres (FTKs) decreased 1.8% in January, compared to the same period last year.
Freight capacity, measured in available freight tonne kilometres (AFTKs), rose by 4.0% year-on-year in January, the eleventh month in a row that capacity growth outstripped demand growth.
Demand for air cargo continued to face significant headwinds, said Alexandre de Juniac, Iata’s director general and CEO. Global economic activity and consumer confidence have weakened. And the Purchasing Managers Index (PMI) for manufacturing and export orders has indicated falling global export orders since September 2018.
”Air cargo markets contracted in January. This is a worsening of a weakening trend that started in mid-2018. Unless protectionist measures and trade tensions diminish there is little prospect of a quick rebound,” he said.
According to data released by the International Air Transport Association (Iata), demand measured in freight tonne kilometres (FTKs) decreased 1.8% in January, compared to the same period last year.
Freight capacity, measured in available freight tonne kilometres (AFTKs), rose by 4.0% year-on-year in January, the eleventh month in a row that capacity growth outstripped demand growth.
Demand for air cargo continued to face significant headwinds, said Alexandre de Juniac, Iata’s director general and CEO. Global economic activity and consumer confidence have weakened. And the Purchasing Managers Index (PMI) for manufacturing and export orders has indicated falling global export orders since September 2018.
”Air cargo markets contracted in January. This is a worsening of a weakening trend that started in mid-2018. Unless protectionist measures and trade tensions diminish there is little prospect of a quick rebound,” he said.
Only two of six regions reported year-on-year demand growth in January 2019 – North America and Africa. Asia-Pacific, Europe and the Middle East all contracted, while Latin America was flat.
African carriers saw freight demand increase by 1.0% compared to the same month in 2018. Capacity grew 8.2% year-on-year
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