GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai, United Arab Emirates, December 04, 2019:   The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 3.5% in October 2019, compared to the same period in 2018. This marks a weak start to the traditional peak season for air cargo and the twelfth consecutive month of year-on-year declines in freight volumes.
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. 


“Air cargo's 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,” said Alexandre de Juniac, IATA's Director General and CEO. 

 

 Regional Performance


Airlines 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 – the largest cargo hub in the world – continues to impact activity. However, the thawing of US-China trade relations and robust economic growth in key regional economies are positive developments. 


North 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.   


European airlines posted a 1.5% decrease in freight demand in October 2019 compared to the same period a year earlier – a significant improvement over the 3.5% decrease in September. Better than expected economic activity in Q3 in several of the region's large economies helped support demand. Capacity increased by 2.8% year-on-year. 


Middle Eastern airlines' 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 region's key airlines, seasonally adjusted freight volumes in the region have resumed a modest upwards trend which is a positive development for the region's carriers.


Latin American 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 region's key economies have impacted the region's air cargo performance. Capacity increased by 2.3% year-on-year.


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% year-on-year.

 



Posted by : GoDubai Editorial Team
Viewed 6047 times
Posted on : Wednesday, December 4, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : EASA extends Part 145 certification of SriLankan Engineering
Next Story : Abu Dhabi Airports awards retail spaces at Midfield Terminal to Lulu Group
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Lockdown Showdown: Jaguar I-pace Etrophy Series to Get Back on Track in Berlin i...
Three Eggs get Yemeni National a Guinness World Records Title
Omega's Antimagnetic Tourbillon Is a Watchmaking Breakthrough
Lamborghini SCV12: Squadra Corse Hypercar Ready to Hit the Track
The new BMW M5 and BMW M5 Competition
Toric Tourbillon Slate
GROHE Smart Control Review
Twitter tests Tweeting with Voice
Saxo Bank Launches Loyalty Program for MENA Region Clients
Hyundai Motor and Sony Pictures Entertainment Announce Unique and Pioneering Mul...
American Aesthetic Medical Center Has Something in Store for the Esthetical Figu...
WTTC Launches Safe Travels Protocols for Attractions, Car Hire and Short-Term Rental
NUDESTIX Launches - Nudies Blush, Bronze, and Glow Shade Extension
Volvo Cars Chengdu Car Plant Powered by 100 Per Cent Renewable Electricity
Range Rover Marks 50 Years of All-terrain Innovation and Luxury With Exclusive N...
Under-12 and Over-60 Can Now Take Part in Sports Activities: Dubai Sports Council
Dabur Ensures Safety with Hand Sanitizers and Personal Protection Kits as UAE Es...
Let's Brigthen Up! The Face Shop's Ultimate Summer Skincare Range From Belif is Here!
Handy Helper for Content Creators: The Compact A6100 Mirrorless Camera from Sony...
Pre-orders for Samsung's Galaxy S20+ 5G and Galaxy Buds+ BTS Edition now open in...
Experts Highlight need for Young Talent to Develop Skills for a Post-Covid-19 World
Dabur Launches Pure Organic Coconut Oil: Natural Protection for Hair, Skin, and ...
GEMS Wellington Academy – Al Khail Improves Rating to 'Very Good' in KHDA DSIB 2...
Etihad Airways to Recommence Flights to Athens
Dubai Sees Pronounced Uptick in Demand for Retail Units
Book Building of Amlak International's IPO of 30% of Shares
Sanctuary for the Senses: All-New Lincoln Corsair Arrives with Whisper-Quiet, Co...
Essence Spring/Summer 2020 Collection
Registration Opens for Training On the Camel Trek and Camel Marathon for Expats
Covid-19 Leads UAE Businesses to Adopt Upgraded Green Building Solutions
Dubai Sports Council Discuss Upcoming Sports Events With Federations and Organisers
Dubai Sports Council to Celebrate Dubai's COVID-19 Heroes Through Commemorative ...
Turkish Airlines Was the Busiest Operator in the Eurocontrol Area After Restarti...
Celebrate Father's Day With Parmigiani Fleurier Tondagraph Slate'
INFINITI of Arabian Automobiles presents Dubai Islamic Bank customers Super Sale...
Crude Oil Headwinds on Virus and Technicals
Customers can Benefit from Increasing Gold Rate by just Paying 10% Advance at Ma...
Canadian University Dubai Receives Prestigious Certification in Education for Pu...
Report Reveals the Six Fintech Innovations That Will Boost the ‘Financial Health...
Serco Middle East Appoints New Managing Director for Dubai Metro and Dubai Tram
Big Bang Integral King Gold
Pan Emirates Unveils Exclusive New Collection
Digital Vision Technology Signals On-Track Success for Panasonic Jaguar Racing
Schneider Electric Extends Strategic Partnerships with AVEVA, Lenovo and Stratus...
Celebrate World Music Day with HONOR Magic Earbuds
The 11th Edition of the Arab Fashion Week to Launch Virtually Today, from June 2...
New Bentayga to Launch Beyond100
Cairo Amman Bank Adopts the Latest Technology to Enhance Performance and Securit...
Celebrate Summer Safely with the New, Shopping Normal at BurJuman
Registration open for Dubai Watersports Summer Week