News
Annual air freight declines for first year since 2012
February 7th 2020
Asia-Pacific carriers recorded an annual decrease in air cargo of 5.7 per cent, the largest decline of any region in 2019, full year data from the International Air Transport Association (IATA) published this week showed. Capacity increased by 1.1 per cent. Read More »
IATA said “as the world’s main manufacturing region, international trade tensions and the global growth slowdown weighed heavily on regional air freight volumes in 2019”. “Within Asia, Freight Tonne Kilometres (FTK), were particularly effected, down 8 per cent compared with a year ago,” the association said.
“Trade tensions are at the root of the worst year for air cargo since the end of the Global Financial Crisis in 2009,” said IATA’s director general and CEO, Alexandre de Juniac. “While these are easing, there is little relief in that good news as we are in unknown territory with respect to the eventual impact of the coronavirus on the global economy.
“With all the restrictions being put in place, it will certainly be a drag on economic growth. And, for sure, 2020 will be another challenging year for the air cargo business.” Global growth in trade in 2019 was 0.9 per cent.
