Latin American airlines experienced a 3,1% year-on-year decrease in their international cargo volumes in September, which increased the 2,0% decline experienced in August, according to a report released on Tuesday (06.11.2019) by the International Air Transport Association (IATA).
The report said the decline came despite recent signs of economic recovery in Brazil, but was due to deteriorating conditions elsewhere in the region in line with the business slowdown globally.
In September, air cargo transported in tonne-kilometers (FTK) decreased by 4,5% compared to the same month in 2018, and this decrease was widespread. in all regions except Africa.
While offered air cargo capacity continued to grow modestly, 2,1% year-on-year in September, given weak demand, the overall load factor showed that it was 4,5 percentage points below the level of a year ago, adding to a global fall of 4,2% in FTK recorded in August.
However, IATA noted in its market analysis that on a seasonally adjusted basis, the level of cargo transported has seen a slight rebound month-on-month, with most of the decline in cargo volumes occurring in late 2018 and early 2019, and the downward trend having plateaued since then, so if this continues, the year-on-year growth rate is expected to return to positive territory by early 2020.
Airlines in the Middle East, Asia-Pacific, Europe and North America regions were the weakest performers during the month, with total cargo carried falling 8,0%, 4,9%, 3,3% and 4,2% year-on-year, respectively, while capacity offered in those regions increased 2,7%, 3,3% and 1,9%, respectively.
Global #aircargo demand ?4.5% in September. Intensifying trade wars between ?? – ?? and ?? – ??, deteriorating global trade & weakness in global export orders are taking their toll. #aviation See how your region performed? https://t.co/Aja6cb9RKi pic.twitter.com/8tDaorHJm0
- IATA (@IATA) November 7, 2019
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