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

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.


air freight IATA The International Air Transport Association


The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), 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.

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. In part, November’s outcome reflects the growing importance of large e-commerce events such as Singles Day and Black Friday.

While international e-commerce continues to grow, overall air cargo demand continued 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.

Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 2.9% year-on-year in November 2019. Capacity growth has now outstripped demand growth for the 19th consecutive month.

 

November 2019 (% year-on-year) World share1 FTK AFTK FLF (%-pt)2 FLF (level)3
Total Market 100.0% -1.1% 2.9% -2.0% 49.6%
Africa 1.6% 19.8% 13.7% 2.1% 40.4%
Asia Pacific 35.4% -3.7% 1.8% -3.1% 53.8%
Europe 23.3% 2.6% 4.0% -0.8% 56.9%
Latin America 2.7% -3.4% -2.3% -0.5% 40.3%
Middle East 13.2% -3.0% 2.6% -2.9% 49.7%
North America 23.8% -1.1% 3.3% -1.8% 41.3%
1 % of industry FTKs in 2018  2 Year-on-year change in load factor  3 Load factor level