Global air freight demand down 3.2 pct in July: IATA

Source: Xinhua| 2019-09-05 20:07:08|Editor: xuxin
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GENEVA, Sept. 5 (Xinhua) -- The International Air Transport Association (IATA) said Thursday that global air freight demand shrank by 3.2 percent in July, compared to the same period last year, impacted by weak global trade and trade dispute.

The global trade markets are measured in freight tonne kilometers (FTKs), said IATA, which released data showing global trade volumes are 1.4 percent lower than a year ago.

Trade volumes between the United States and China have fallen by 14 percent year-to-date compared to the same period in 2018.

"Trade tensions are weighing heavily on the entire air cargo industry. Higher tariffs are disrupting not only transpacific supply chains but also worldwide trade lanes," said Alexandre de Juniac, IATA's Director General and CEO.

Airlines in Asia-Pacific and the Middle East suffered sharp declines in year-on-year growth in total air freight volumes in July 2019, while North America and Europe experienced more moderate falls.

Africa and Latin America both recorded growth in air freight demand compared to July last year.

Asia-Pacific airlines saw demand for air freight contract by 4.9 percent in July 2019, compared to the same period in 2018.

IATA said the U.S.-China trade standoff and weaker manufacturing conditions for exporters in the region have significantly impacted the market.

North American airlines saw demand decrease by 2.1 percent in July, compared to the same period a year earlier. Freight demand between Asia and North America have fallen by almost 5 percent in year-on-year terms.