IATA: Airfreight demand drops for 10th consecutive month in Aug-2019, 'deeply concerning'
IATA reported (09-Oct-2019) global airfreight demand in FTKs contracted 3.9% year-on-year in Aug-2019, marking the 10th consecutive month of declines and the longest period of declines since the global financial crisis in 2008. Director general and CEO Alexandre de Juniac described the results as "deeply concerning". Capacity in AFTKs increased 2%, marking the 16th consecutive month in which capacity outgrew demand. Global trade volumes decreased 1% and global export orders continue to fall. IATA stated: "Air cargo continues to face strong headwinds from the intensifying trade war between the US and China, as well as weakness in some of the key economic indicators and rising political uncertainties worldwide". The association noted trade in emerging economies has been underperforming advanced nations for most of 2019 due to the sensitivity of emerging economies to trade tensions, rising political instability and currency depreciation in some key emerging markets. Mr de Juniac commented: "With no signs of a détente on trade, we can expect the tough business environment for air cargo to continue. Trade generates prosperity. Trade wars don't". [more - original PR] [more - original PR - II]