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

08 January 2020 (Geneva) - The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased by 1.1% in November 2019, compared to the same period in 2018. This marks the thirteenth consecutive month of year-on-year declines in freight volumes. 

Despite the decline in demand, November's performance was the best in eight months, with the slowest year-on-year rate of contraction recorded since March 2019. In part, November's outcome reflects the growing importance of large e-commerce events such as Singles Day and Black Friday.  

While international e-commerce continues to grow, overall air cargo demand continued to face headwinds from the effects of the trade war between the US and China, the deterioration in world trade, and a broad-based slowing in global economic growth.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 2.9% year-on-year in November 2019. Capacity growth has now outstripped demand growth for the 19th consecutive month. 

“Air cargo recovered slightly in November, with demand down 1.1% - a significant improvement over the 3.5% decrease in October. However, the fourth quarter is a peak season for air cargo. So, a decline in growth is still a disappointment. Looking forward, signs of a thawing in US-China trade tensions are good news but there is still a long way to go if cargo is to achieve 2.0% growth forecast in 2020,” said Alexandre de Juniac, IATA's Director General and CEO.

Regional Performance

Airlines in Asia-Pacific, Latin America and the Middle East suffered sharp declines in year-on-year growth in total air freight volumes in November 2019, while North American carriers experienced a more moderate decline. Europe and Africa were the only regions to record growth in air freight demand compared to November last year. 

Asia-Pacific airlines saw demand for air freight contract by 3.7% in November 2019, compared to the same period in 2018. This was the sharpest drop in freight demand of any region for the month.  Capacity increased by 1.8%. The US-China trade war has significantly affected the region, with demand on the large Asia - North America market down 6.5% year-on-year in October (latest available data). 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 1.1% in November 2019, compared to the same period a year earlier. Capacity increased by 3.3%. Slower growth in the US economy and trade tensions with China have affected demand.  However, positive progress in trade negotiations between both countries highlighted by the ‘phase one' deal is a positive development. 

European airlines posted a 2.6% increase in freight demand in November 2019 compared to the same period a year earlier.  Better than expected economic activity in Q3 in some of the region's large economies helped support demand. Capacity increased by 4.0% year-on-year. 

Middle Eastern airlines' freight volumes decreased 3.0% in November 2019 compared to the year-ago period – a significant improvement over the 5.7% decrease in October. Capacity increased by 2.6%. Against a backdrop of operational and geopolitical challenges facing some of the region's key airlines, seasonally adjusted freight volumes in the region have continued a modest upwards trend which is a positive development for the region's carriers. However, escalated geopolitical tensions threaten the regions' carriers in the period ahead.  

Latin American airlines experienced a decrease in freight demand in November 2019 of 3.4% 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 decreased by 2.3% year-on-year.

African carriers posted the fastest growth of any region in November 2019, with an increase in demand of 19.8% compared to the same period a year earlier. Strong trade and investment links with Asia contributed to the positive performance. Capacity grew 13.7% year-on-year.



Posted by : GoDubai Editorial Team
Viewed 5551 times
Posted on : Wednesday, January 8, 2020  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Etihad Guest Programme Welcomes Gulf Air as New Airline Partner
Next Story : ETIHAD AIRWAYS STATEMENT ON AUSTRALIAN BUSHFIRES
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
Korea's Number One Beauty Brand Innisfree All Set to Celebrate the Grand Opening...
6 Trends That Will Dominate Beauty in 2020 According to Foreo
Made in Italy: Top Picks from the Latest Deborah Milano Make-Up Range
Sephora: Are You Ready to Join the #SephoraSquad?
Emirates Post Issues Set of Commemorative Stamps for the New Logo for People of ...
How to Beat Pigmentation with DERMAdoctor
Introducing Zeitun Premium Face Care Collection
Spoil her this Mother's Day with gifts from Marks & Spencer
Rate Hawk is Live with Global Innovations Flagship Product TassPro and Itinerary
Cerruti 1881 - Special Product Launch for Mother's Day
Achieve Gorgeous and Radiant Skin in Only 90 Seconds
Enjoy a Selection of Anti-Aging Products from Beauty Solutions
Laloge X Ivanka Trump
Swatch X 007 – Introducing the New James Bond Collection and Limited Special Edition
Marks & Spencer, Britain's Best Loved Denim
Ferragamo Sapphire Collection
Tag Heuer Opens Boutique at Mall of the Emirates
HRH the Prince of Wales Officially Opens the National Automotive Innovation Centre
Dubai Chamber Honours Top-performing Trading Companies
TBO Holidays Hotel XML API Integrated with TassPro and Itinerary HomePR & Events...
The Award-winning #burjumanfoodart Festival is Back by Popular Demand!
HH Sheikh Mansour bin Mohammed Visits Dubai Sports Council
Marks & Spencer Unveils its All New Menswear
Etihad Airways to Operate Special Flights From Al Ain to Jeddah During Ramadan
Mall of Oman Onboards a Host of Global Lifestyle, Fashion, and F&B Brands Ahead ...
Visit of Punjab Minister at Al Maya Stand @ Gulfood 2020
Statement Stilettoes from Steve Madden
Get Great Hair Naturally With HASK's Latest Haircare Collections This Spring!
This Unbeatable Bundle Offer makes it the Best Time to Buy the King of 5G Smartp...
A Game Changing, GCC First Initiative is Unveiled at Gulfood 2020: Oasis Water N...
GEMS Global Innovation Showcase 2020 Sees 1,500 Student Innovators and Entrepren...
Dubai Cares Donates 2,000 Books to Wanna Read? Initiative to Instill the Habit o...
Al Wahda Mall Announces UAE Pro League Mobile Roadshow Activations
His Highness Sheikh Hamdan Bin Rashid Al Maktoum Opens Gulfood 2020
Airlines and Posts Cooperate Globally for a Sustainable and Reliable Cross-borde...
Bottled Water Industry Leaders Come Together to Form Gulf Bottled Water Associat...
Stars Join OMEGA at the Olympia Bob Run in St. Moritz
Ericsson Received Awards at the Stc Partner Day for Saudization and Internationa...
Upfield Unveils New Plant-Based Products and Spreads Awareness of Nutritional Be...
Join the Dots With Max Mara
Registration is Now Open for Dubai Cares' Volunteer Globally in Malawi
Move Up in Life With Snowhite's Latest Fashion Destination in Abu Dhabi
Range Rover Evoque: Europe's Favourite Compact SUV
Step Up Your Fashion Game with the Sleek HONOR MagicWatch 2
Easa Saleh Al Gurg Group Celebrates 60 Years of Nation Building by Renewing Its ...
Chronoswiss Sirius Chronograph Moon Phase
Pioneered by an Emirati, UAE Brand, Dubai Energy Drink, Participates in Gulfood 2020
Sheikh Khaled Al Qasimi Honors Winners of Sharjah Excellence Award 2019
Corum AC-One 38 Automatic
UAE Team Emirates' Stars Surprise Abu Dhabi School Children Ahead of UAE Tour