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            december 16, 2019

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Indiaexportnews.com

Global air freight volumes decline by 5pc in September

  11.11.2019    

Cargo traffic globally, measured in freight tonne kilometres (FTKs), fell by 4.5 per cent year on year in September, according to data compiled by the International Air Transport Association (IATA).
IATA noted in its September Air Freight Market Analysis that most of the drop in air freight traffic occurred in late 2018 and early 2019 with the downward trend having plateaued since that time. Should this current trend continue, the year-on-year growth rate is predicted to return to positive territory in the early part of 2020, reported New York's Air Cargo World.
In September, industrywide air freight capacity measured in available freight tonne kilometres (AFTKs) increase by 2.1 per cent year on year for the month; and was up 1.9 per cent in the first nine months of the year. Capacity growth has now "outstripped" growth in demand for the 17th straight month.
Softer demand has dragged load factors down 3.2 percentage points year on year in September, and 2.6 percentage points for the first nine months of 2019.
IATA cites ongoing weakness in several key economies including Germany and the UK as well as the ongoing political uncertainty stemming from Brexit's delay, the most recent escalation in the US-China trade row and stricter trade controls between South Korea and Japan, as impacting global volumes.
"Trade volumes have been declining in year-on-year terms for the past three months across both advanced and emerging economies, with the latter having been particularly impacted," said IATA.
Falling freight volumes were observed across all key regions, except for Africa. Freight demand contracted across the largest routes between Asia and North America, where seasonally adjusted volumes are down 4.5 per cent year on year, compared to their levels in September 2018.
Even though the Asia Pacific and North America regions account for most of the FTK contraction seen in September, FTKs are also lower on routes to and from Europe and the Middle East, compared to the same period a year earlier.
Airlines in the Middle East, Asia Pacific, Europe and North America regions were the weakest performers for the month. Total FTKs declined eight per cent, 4.9 per cent, 3.3 per cent and 4.2 per cent year on year respectively. Meanwhile total capacity for the Asia Pacific, Europe and North America rose by 2.7 per cent, 3.3 per cent and 1.9 per cent, respectively.
Carriers based in Latin America saw a 0.2 per cent year on year decrease in overall September air freight demand and a 2.9 per cent decrease in overall capacity.
Africa saw the strongest performance for the seventh month in a row, with air cargo demand up 2.2 per cent year on year, continuing an upwards trend that became evident in mid-2018. Capacity grew 9.4 per cent year on year.



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