IATA reports drop in air cargo demand
The International Air Transport Association (IATA) has reported that there was a fall in air cargo demand in July compared to the same month last year. According to IATA data, air freight volumes measured in freight tonne kilometres (FTK) fell 0.6%, in line with weaker global economic growth.
The association added that the decline was “broad-based across all regions with the exception of Africa and the Middle East”. The most pronounced falls were in the Americas, where international FTK volumes were down more than 5%.
Commenting on the July statistics, IATA’s Director General and CEO Tony Tyler said: “The recent stock-market turmoil shows that investors have real fears about the strength of the global economy. And the disappointing July freight performance is symptomatic of a broader slowdown in economic growth.
“The combination of China’s continued shift towards domestic markets, wider weakness in emerging markets, and slowing global trade indicates that it will continue to be a rough ride for air cargo in the months to come.”