IATA predicts further challenges as air freight demand declines
Data released by the International Air Transport Association (IATA) for global air freight markets indicates a fall in air cargo demand during July, compared to the same month in 2014. Air freight volumes measured in freight tonne kilometres (FTK) fell 0.6%, in line with weaker global economic growth.
With the exception of Africa and the Middle East, the decline was broad-based across all regions. The most pronounced falls were in the Americas, where international FTK volumes were down more than 5% compared to July 2014.
European carriers reported a fall in demand in June of 1.5 per cent compared to a year ago and capacity rose 3.9%. Central and Eastern Europe has had an especially tough few months, with trade in this region falling around 10% since the end of the first quarter.
Tony Tyler, IATA’s director general and CEO, commented: "The recent stock-market turmoil shows that investors have real fears about the strength of the global economy. And the disappointing July freight performance is symptomatic of a broader slowdown in economic growth.
"The combination of China’s continued shift towards domestic markets, wider weakness in emerging markets, and slowing global trade indicates that it will continue to be a rough ride for air cargo in the months to come."
Posted on: September 5th 2015