Air cargo peak season off to slow start, demand down 3.5% in October: IATA
The International Air Transport Association (IATA) on Wednesday released data for global air freight markets showing that demand, measured in freight tonne-kilometres (FTKs) decreased by 3.5 per cent in October as compared to the same period in 2018.
This marks a weak start to the traditional peak season for air cargo and the 12th consecutive month of year-on-year declines in freight volumes.
Freight capacity, measured in available freight tonne kilometres (AFTKs) rose by 2.2 per cent 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 United States and China, the deterioration in global trade and a broad-based slowing in economic growth.
