IATA's global air freight data for October 2019
shows that demand, measured in freight tonne kilometers (FTKs),
decreased by 3.5% when compared to the same month in 2018.
marks a weak start to the traditional peak season for air cargo,
and the twelfth consecutive month of year-on-year declines in
Freight capacity, measured in available freight
tonne kilometers (AFTKs), rose by 2.2% year-on-year in October
2019. Capacity growth has now outstripped demand growth for the
18th consecutive month.
Over the past year, air cargo has
suffered from the effects of the trade war between the US and
China, the deterioration in global trade, and a broad-based
slowing in economic growth.
ďAir cargoís peak season is
off to a disappointing start, with demand down 3.5% in October.
Demand is set to decline in 2019 overall - the weakest annual
outcome since the global financial crisis. It has been a very
tough year for the air cargo industry,Ē said Alexandre de Juniac,
IATA's Director General and CEO.
in Asia Pacific and the Middle East suffered sharp declines in
year-on-year growth in total air freight volumes in October 2019,
while Latin American and European carriers experienced a more
moderate decline. Africa was the only region to record growth in
air freight demand compared to October last year.
Asia Pacific airlines saw demand for air freight contract by 5.3%
in October 2019, compared to the same period in 2018. Capacity
increased by 0.6%. The US-China and South Korea-Japan trade wars
have negatively affected the region. And the disruption to
operations at Hong Kong International Airport Ė the largest cargo
hub in the world Ė continues to impact activity. However, the
thawing of US-China trade relations and robust economic growth in
key regional economies are positive developments.
American airlines saw demand decrease by 2.4% in October 2019,
compared to the same period a year earlier. Capacity increased by
3.1%. The underlying strength of the US economy has seen domestic
air cargo outperform international which, as noted above, has also
been impacted by the trade tensions with China.
airlines posted a 1.5% decrease in freight demand in October 2019
compared to the same period a year earlier Ė a significant
improvement over the 3.5% decrease in September. Better than
expected economic activity in Q3 in several of the regionís large
economies helped support demand. Capacity increased by 2.8%
Middle Eastern airlinesí freight volumes
decreased 6.0% in October 2019 compared to the year-ago period.
This was the sharpest drop in freight demand of any region for the
month. Capacity increased by 0.9%. Against a backdrop of
operational and geopolitical challenges facing some of the
regionís key airlines, seasonally adjusted freight volumes in the
region have resumed a modest upwards trend which is a positive
development for the regionís carriers.
airlines experienced a decrease in freight demand in October 2019
of 2.6% compared to the same period last year. Various social and
economic headwinds in the regionís key economies have impacted the
regionís air cargo performance. Capacity increased by 2.3%
African carriers posted the fastest growth of
any region in October 2019, with an increase in demand of 12.6%
compared to the same period a year earlier. Strong trade and
investment links with Asia contributed to the positive
performance. Freight volumes on key Africa-Asia routes were up 23%
annually in September (latest available data). Capacity grew 13.9%