Published on : Saturday, May 11, 2019
However, this is a significant improvement on the 4.9% contraction in February.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 3.1% year-on-year in March 2019. Capacity growth has now outstripped demand growth for 11 out of the last 12 months.
“Year-on-year demand for air freight edged back into positive territory in March with 0.1% growth. After four consecutive months of contraction, this is an encouraging development. But the headwinds from weakening global trade, growing trade tensions and shrinking order books have not gone away,” said Alexandre de Juniac, IATA’s Director General and CEO.
All regions reported year-on-year demand growth in March 2019, except Asia-Pacific which contracted. Asia-Pacific airlines saw demand for air freight shrink by 3.4% in March 2019, compared to the same period in 2018.
On the other hand, African carriers posted the fastest growth of any region in March 2019, with an increase in demand of 6.0% compared to the same period a year earlier.
Although demand for air cargo continues to face significant headwinds, industry confidence regarding the outlook, however remains relatively upbeat with only 13% of respondents from IATA’s Business Confidence Survey expecting to see a decrease in freight volumes in 2019 compared to 2018.
Tags: air freight