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January 13, 2020

Global air freight demand was down 1.1% in November

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.


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