Global air freight demand was down 1.1% in November

ATA notes that, despite the decline in demand, November’s performance was the best in eight months.

The International Air Transport Association (IATA) reports that demand in global air freight markets decreased by 1.1% in November 2019, compared to the same period in 2018. This marks the thirteenth consecutive month of year-on-year declines in freight volumes.

IATA says that, despite the decline in demand, November’s performance was the best in eight months, with the slowest year-on-year rate of contraction recorded since March 2019.

The Association attributes part of November’s outcome to the growing importance of large e-commerce events such as Singles Day in Asia and Black Friday. But While international e-commerce continues to grow, overall air cargo demand continues to face headwinds from the effects of the trade war between the US and China, the deterioration in world trade, and a broad-based slowing in global economic growth.

Asia-Pacific airlines saw demand for air freight contract by 3.7% in November compared to the year-earlier period. North American airlines saw demand decrease by 1.1% and Middle Eastern airlines’ freight volumes decreased 3.0%. European airlines posted a 2.6% increase in freight.

“Demand for air cargo in November was down 1.1% compared to the previous year. That’s better than the 3.5% decline posted in October. But it is a big disappointment considering that the fourth quarter is usually air cargo’s peak season. Looking forward, signs of a thawing in US-China trade tensions are good news. But trading conditions at present remain very challenging,” said Alexandre de Juniac, IATA’s Director General and CEO.