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 3312 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
VARA - 2019 Fall/Winter Collection [8052-Views]
Nursery children gift Eid packages to labourers [5789-Views]
An increase of 36.7% compared to the first quarter [5240-Views]
Eid Al Adha Event Program [5112-Views]
US $859bn Oil, Gas and Petrochemical Projects Underway or Planned in the MENA Region as Gl... [5100-Views]
Dubai Festival City Mall Celebrates Global Independence Days with Exclusive IMAGINE shows [5063-Views]
Eid Gifting [4898-Views]
Turkish Airlines continues its journey to the top with new cabin uniforms [4697-Views]
Alisha Moopen appointed as the Deputy Managing Director of Aster DM Healthcare [4599-Views]
Evonik sticks to full-year outlook despite cooling economy [4520-Views]
Benefits to young people of becoming a freelancer a focus at International Youth Day event [4362-Views]
GEMS Education offers up some expert ways to get your children to read in the late summer ... [4264-Views]
Zulekha Hospital Sharjah Honored With Baby Friendly Hospital (BFHI) Accreditation From Uni... [4246-Views]
Al-Futtaim Toyota delivers strong H1 results [4185-Views]
FireEye Identifies Prolific Chinese Cyber Threat Group [4105-Views]
Eyes of the World on Expo 2020 Dubai [4099-Views]
MoHAP Announces Working Hours at Primary Health Care & Preventive Medicine Centers During ... [4081-Views]
Lenovo Introduces Single-socket Servers, Designed Specifically for Edge and Data-intensive... [4026-Views]
LG Signature Responds to Market Demand for Luxury Appliances With Expanded Lineup [3812-Views]
Show your Nanny some love and treat them to a Complimentary Haircut throughout August and ... [3733-Views]
9th Muslim World Business and Investment Zone to host Jewels of the Muslim World Award and... [3660-Views]
Sharjah Exports Development Center Achieves Record Results in First Half of 2019 [3611-Views]
Express Auto Wash offers festive deals during Eid Al Adha [3483-Views]
Introducing Lunette: A Tool to Empower Women [3361-Views]
New Mimecast Report Reveals Analysis of 67 Billion Rejected Emails [3337-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories