Latin American airlines experienced a 3,4% decrease in cargo demand in November 2019 compared to the same period last year, according to the monthly report released this Tuesday (08.01.2019) by the International Air Transport Association (IATA).
The study notes that this was due to several social and economic headwinds in key economies in the region, which have impacted the performance of air cargo, while The supply of space also decreased, but by 2,3% year-on-year.
Global demand, measured in freight tonne kilometres (FTK), decreased by 1,1% in November 2019, compared to the same period in 2018, marking the XNUMXth consecutive month of year-over-year declines in cargo volumes.
Despite weaker demand, November's performance was the best in eight months, with the slowest annual rate of contraction recorded since March 2019. In part, November's result reflects the growing importance of major e-commerce events such as Singles' Day and Black Friday, which were recorded in different parts of the world.
While international e-commerce continues to grow, overall air cargo demand continued to face headwinds from the effects of the US-China trade war, deteriorating global trade and a broad-based slowdown in global economic growth.
Offered cargo capacity, measured in available freight tonnes (AFTK), increased by 2,9% year-on-year in November 2019 and capacity growth has now outpaced demand growth for the 19th consecutive month.
«Air cargo rebounded slightly in November, with demand up 1,1%, a significant improvement over the 3,5% decline in October. However, the fourth quarter is a peak season for air cargo."said Alexandre de Juniac, IATA's Director General and CEO.
«Therefore, he warned, a slowdown in growth remains a disappointment. Looking ahead, signs of a thaw in trade tensions between the United States and China are good news, but there is still a long way to go for cargo to achieve a forecast 2.0% growth in 2020. «.
#Aircargo demand down 1.1% in November 2019. Despite the November's decline performance was the best in eight months! #aviation
See how your region performed: https://t.co/Nxnc2qmpiR pic.twitter.com/e7yhZKPfVh
- IATA (@IATA) January 8, 2020
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