Uncertainty in global trade continues to affect airfreight, with the Airports Council International (ACI) World reporting that global freight declined by 5.4% in February – the largest monthly loss since 2013.
The global 12-month rolling average stood at 1.8% at the end of February, down more than 4% since the middle of 2018.
Data released last week by the International Air Transport Association (Iata) also showed that demand for global airfreight markets – measured in freight tonne kilometres (FTKs) – decreased by 4.7% in February 2019 compared to the same period in 2018.
Iata director-general and CEO, Alexandre de Juniac, ascribed this to ongoing global trade tensions, amongst other things.
“Trade negotiations between major economies are still under way, leaving the industry in a state of uncertainty. The moderation of passenger growth could be a sign that the effects of this uncertainty, which have had such a significant impact on the freight market, could also have an impact on passenger growth,” said Angela Gittens, director general of ACI World, a non-profit organisation representing the world's airports.
International freight was the most significant contributor to the industry’s decline in February, recording a 6.7% loss on a year-over-year basis. ACI data showed that both international and total freight 12-month rolling averages had been inching closer to zero growth and now stood at 1% and 1.8% respectively.
Africa was the only region reflecting positively in February, with 4.9% growth which contributed to its 12-month rolling average of 10.8%.
