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4-Apr-2019 10:15 AM

IATA: Airfreight 'in the doldrums' with 'worst performance' in three years in Feb-2019

IATA reported (03-Apr-2019) global FTKs decreased 4.7% year-on-year in Feb-2019, marking the fourth consecutive month of negative growth and "the worst performance in the last three years". Capacity increased 2.7%, marking the 12th consecutive month in which capacity outgrew demand. IATA said air cargo demand continues to face "significant headwinds", including trade tensions, weaker global economic activity and consumer confidence and falling global export orders since Sep-2018, as indicated by the Purchasing Managers Index for manufacturing and export orders. IATA director general and CEO Alexandre de Juniac said: "Cargo is in the doldrums with smaller volumes being shipped over the last four months than a year ago. And with order books weakening, consumer confidence deteriorating and trade tensions hanging over the industry, it is difficult to see an early turnaround. The industry is adapting to new markets for e-commerce and special cargo shipments. But the bigger challenge is trade is slowing. Governments need to realise the damage being done by protectionist measures. Nobody wins a trade war. We all do better when borders are open to people and to trade". [more - original PR]

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