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            october 16, 2019

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July global air freight falls 3.2pc


Global air freight demand in July fell 3.2 per cent year on year after 0.1 per cent uptick in June, leaving volumes flat worldwide, according to the International Air Transport Association (IATA).
"The uncertain economic outlook is having a negative impact on demand for air transport," said IATA chief Tony Tyler, former CEO of Hong Kong's Cathay Pacific Airways.
"Passenger markets - with the exception of Africa, China-domestic and the Middle East - saw demand fall from June to July. A growth trend is clearly slowing. This, along with rising fuel prices is likely to make it a tough second half of the year," Mr Tyler said.
The only gainers were the Middle East carriers that posted a 16 per cent increase in demand on an 11 per cent boost in capacity year on year, helping raise load factors two percentage points to 45.3 per cent
But all other markets experienced declines and the small recovery seen since the end of 2011 has stagnated, said IATA.
Asia-Pacific carriers saw a 7.6 per cent decline in demand in July compared to the previous year, the steepest decline for any region, while capacity dipped just 4.3 per cent. Asia-Pacific carriers have experienced no growth in freight since the fourth quarter of 2011.
European airlines had a 3.6 per cent decline with a 0.9 per cent rise in capacity. Europe's airlines have seen only a one per cent rise in demand since the fourth quarter of 2011.
North American airlines had a 3.6 per cent drop in demand, matching a similar reduction in capacity. Load factor was the lowest for any region at 32.3 per cent.
Latin American airlines' demand fell 5.6 per cent, while capacity climbed 13.9 per cent, resulting in a load factor of 35.2 per cent.
African carriers' results were not available but will return next month.
July passenger demand in aggregate was 3.4 per cent higher than the same month last year, compared to a 6.3 per cent increase in June and average growth of 6.5 per cent over the first half of the year.
The slowdown in travel growth is being driven largely by the recent fall in business confidence in many economies, said the IATA statement.
Airlines have responded to this slower growth environment by reducing the capacity added to markets, a move which has stabilised load factors at relatively high levels and provided some support for profitability in the face of high fuel prices.
In July, passenger capacity rose 3.6 per cent, in line with the expansion of traffic, keeping the load factor at a relatively high 83.1 per cent.

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