Despite recorded growth by African carriers in June, the global air freight saw a sharp decline of 4.8%, compared to what it recorded in the same period in 2018. According to a data released by The International Air Transport Association (IATA), this marks the eighth consecutive month of year-on-year decline in freight volumes.
Signs of a modest recovery in recent months appear to have been premature, with the June contraction broad-based across all regions with the exception of Africa.
Capacity growth remained subdued and the cargo load factor continues to fall. Globally, trade growth is languishing, and business uncertainty is compounded by the latest tariff increases in the US-China trade dispute.
“Global trade continues to suffer as trade tensions—particularly between the US and China—deepen. As a result, air cargo markets continue to contract. Nobody wins a trade war. Borders that are open to trade spread sustained prosperity. That’s what our political leaders must focus on,” said Alexandre de Juniac, IATA’s Director General and CEO.
With an increase in demand of 3.8%, and capacity growth of 16.6%, Africa is the strongest performer for the fourth consecutive month.
