Asia-Pacific airlines' air freight demand fell by 5.4% in June 2019: IATA
August 7, 2019: Demand in global air freight markets decreased by 4.8 percent in June 2019, compared to the same period in 2018, revealed International Air Transport Association (IATA).
The fall in demand marked the eighth consecutive month of year-on-year decline in freight volumes.
August 7, 2019: Demand in global air freight markets decreased by 4.8 percent in June 2019, compared to the same period in 2018, revealed International Air Transport Association (IATA).
Measured in freight tonne kilometers (FTKs), the fall in demand marked the eighth consecutive month of year-on-year decline in freight volumes.
Asia-Pacific airlines saw demand for air freight contract by 5.4 percent in June 2019, compared to the same period in 2018 - the sharpest declines in year-on-year growth in total air freight volumes. FTKs for the within-Asia market have decreased more than 10 percent over the past year. Air freight capacity increased by 1.8 percent over the same period.
Globally, trade growth is languishing, and business uncertainty is compounded by the latest tariff increases in the US-China trade dispute.
June 2019 | World share¹ | FTK | AFTK | FLF | FLF |
Total Market | 100.0% | -4.8% | 2.6% | -3.5% | 45.4% |
Africa | 1.7% | 3.8% | 16.6% | -4.0% | 32.4% |
Asia Pacific | 35.3% | -5.4% | 1.8% | -4.0% | 52.2% |
Europe | 23.4% | -3.6% | 2.8% | -3.3% | 49.8% |
Latin America | 2.7% | -1.0% | 4.6% | -1.9% | 33.7% |
Middle East | 13.3% | -7.0% | 2.7% | -4.6% | 44.0% |
North America | 23.7% | -4.6% | 1.9% | -2.6% | 38.2% |
¹% of industry FTKs in 2018 ²Year-on-year change in load factor ³Load factor level
“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, director general and CEO, IATA.
Africa was the only region to show any growth, with an increase in demand of 3.8 percent compared to the same period in 2018. This makes Africa the strongest performer for the fourth consecutive month. Capacity grew 16.6 percent. Route analysis shows that the Africa-Asia performance is strong — up 12 percent year-on-year.
