Dubai PR Network, Online Press Release from Dubai and Middle East
 
Aviation, Airline & Aerospace(Travel & Tourism)
Filter PR by
  
Air Freight in Decline for Eighth Consecutive Month
 

Dubai, United Arab Emirates -  08, August 2019:  The International Air Transport Association (IATA) 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. This marks 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.

“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’s Director General and CEO.

Regional Performance

Airlines in Asia-Pacific and the Middle East once again suffered 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.

 Asia-Pacific airlines saw demand for air freight contract by 5.4% in June 2019, compared to the same period in 2018. Although an important factor, the US-China trade war is not solely responsible for the fall. FTKs for the within-Asia market have decreased more than 10% over the past year. Air freight capacity increased by 1.8% over the same period.  

North American airlines’ freight demand decreased by 4.6% in June 2019, compared to the same period a year earlier. Capacity increased by 1.9% over the past year. US-China trade tensions are weighing on the performance, with FTKs to Asia down 5%. FTKs on routes to/from Europe, South America and Middle East were also lower.

European airlines posted a 3.6% decrease in freight demand in June 2019 compared to the same period a year earlier. Comparatively strong cargo volumes within Europe are helping to minimize the impact of weaker German exports. Capacity increased by 2.8% year-on-year. 

Middle Eastern airlines’ freight volumes decreased 7.0% in June 2019 compared to the year-ago period. Capacity increased by 2.7%. Seasonally-adjusted demand has been falling since late 2018, and the latest data show volumes to Europe (-7.2%) and Asia-Pacific (-6.5%) were particularly weak.  

Latin American airlines experienced a decrease in freight demand in June 2019 of 1.0% compared to the same period last year and capacity increased by 4.6%. Much of the decline in traffic can be attributed to weakness in the within-South America market (especially Brazil and Argentina) where FTKs fell 6.5%. 

African carriers were the only ones to report growth in June 2019, with an increase in demand of 3.8% compared to the same period a year earlier. This makes Africa the strongest performer for the fourth consecutive month. Capacity grew 16.6%. Route analysis shows that the Africa-Asia performance is strong—up 12% year-on-year.

 


Posted by : Dubai PR Network Editorial Team
Viewed 8424 times
PR Category : Travel & Tourism
Posted on : Thursday, August 8, 2019  10:02:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Turkish Airlines continues its journey to the top with new c...
Next Story : Etihad Airways To Fly 787 Dreamliners To Jakarta And Maldive...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Preparing for a New Post-pandemic Economic Era in Mena [4116-Views]
Code 11.59 by Audemars Piguet – New Tones of Elegance [3616-Views]
Panasonic Jaguar Racing Management Team Discuss Formula E's Return to Racing in Berlin [3407-Views]
Pandora ME for Every Side of You [3198-Views]
“CATRICE” Perfect Look for “Back to the Office” [2886-Views]
Parmigiani Fleurier Toric Fleur' [2628-Views]
Newest LG True Wireless Earbuds Self-clean, Sound Great With Meridian Audio [2358-Views]
Your Guide to Choosing the Right Face Mask [2337-Views]
Get Summer Ready With Magnitone London! [2132-Views]
Kristina Fidelskaya - An Escape, With 'La Pause' Spring / Summer 2020 Collection. [1960-Views]
Smash Summer Fitness Goals with 100 Workout Modes on the HONOR MagicWatch 2 [1931-Views]
Dubai Well Poised for Growth in New Business Entities' [1931-Views]
TishTash Eid Al-Adha Gift Guide 2020 [1927-Views]
Newly Launched HONOR 9A Offers Stunning Photography Anytime Anywhere [1919-Views]
District 2020 forms strategic partnerships with Dubai SME and MBRIF to support growth of U... [1906-Views]
Taste the Summer With Wild & the Moon's Latest Menu Drop! [1845-Views]
Nahdi Medical Company Transforms its Financial Management with Infor [1812-Views]
Comprehensive Study of Refugee Children's Academic, Social, and Emotional Learning Outcome... [1800-Views]
DHA Signs MoU with University of Sharjah [1763-Views]
Wonder Ingredients For Powerful Skincare [1763-Views]
Dubai Summer Surprises Best Buys - Springfield's Hottest Deals [1751-Views]
The New Season of Master Maserati Programme Gets Underway [1747-Views]
Marking International Day Against Drug Abuse: Mohap Provides Addiction Treatment and Rehab... [1730-Views]
Alstom at Forefront of Hygiene & Safety Innovation for Transport & Mobility in a COVID-19 ... [1677-Views]
UAE's First-Ever Fully Sponsored Flight to India [1669-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories