on the air freight market
The briefing on connected aviation
The news, views and numbers you need to know this month
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometres (FTKs), decreased 1.8% in January 2019, compared to the same period in 2018. This was the worst performance in the last three years.
Demand for air cargo continues to face significant headwinds. 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.
North American airlines posted the fastest growth of any region for the eighth consecutive month in January 2019, with an increase in demand of 3.3% compared to the same period a year earlier
Asia-Pacific airlines saw demand for air freight shrink by 3.6% in January 2019, compared to the same period in 2018
European airlines experienced a contraction in freight demand of 3.1% in January 2019 compared to a year ago
Only two of six regions reported year-on-year demand growth in January 2019: North America and Africa
Latin American airlines’ freight demand was flat (0.0%) in January 2019 versus last year
Middle Eastern airlines’ freight volumes contracted 4.5% in January 2019 compared to the year-ago period
Alexandre de Juniac, IATA’s Director General and CEO:
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 re-bound.