Global air freight volumes were flat in November

 IATA reports drop in freight volumes in Asia Pacific, Europe and Africa.

According to data from the International Air Transport Association (IATA), global air cargo volume was flat (0%) in November 2018, compared to the same period the year before.

IATA says this was the slowest rate of growth recorded since March 2016, following 31 consecutive months of year-on-year increases.

“Normally the fourth quarter is a peak season for air cargo. So essentially flat growth in November is a big disappointment. While our outlook is for 3.7% demand growth in 2019, downside risks are mounting. Trade tensions are cause for great concern. We need governments to focus on enabling growth through trade, not barricading their borders through punitive tariffs,” said Alexandre de Juniac, IATA’s Director General and CEO.

Three of the six regions reported year-on-year demand growth in November: North America, Middle East and Latin America. Asia Pacific, Europe and Africa all contracted.

North American airlines posted the fastest growth of any region with an increase in demand of 3.1%. Middle Eastern airlines’ freight volumes expanded 1.7% and Latin American airlines’ freight demand rose 3.1%.

Asia-Pacific airlines saw demand for air freight shrink by 2.3% and European airlines experienced a contraction in freight demand of -0.2%. African carriers saw freight demand decrease by 7.8%.