According to data released on Wednesday (0.02.2020/2019/3,3) by the International Air Transport Association (IATA), during 2012 the demand for air cargo, measured in tonne-kilometres (FTK), registered a fall of 2009% compared to the previous year, the first negative figure since 9,7 and the worst since the financial crisis of 2,1 (at that time it fell by 46,7%). Capacity (measured in AFTK) grew by 2,6%, placing the load factor at XNUMX% (-XNUMX percentage points less).
According to IATA, the sector's decline was fuelled by a meagre 0,9% increase in global trade and in particular by the slowdown in GDP growth in manufacturing-intensive economies. Declining consumer and business confidence, together with a drop in export orders, also contributed to the difficult environment for air cargo.
The association says there are signs that this could be reversed in 2020, although it is still too early to determine the long-term effects of the restrictions associated with combating the coronavirus epidemic.
«Trade tensions are at the root of the worst year for air cargo since the end of the 2009 global financial crisis. Although they are easing, there is little relief given that we are now entering uncharted territory as a result of the eventual impact of the coronavirus on the global economy. With all the restrictions in place, it will undoubtedly be a drag on economic growth. And of course, 2020 will be another challenging year for the air cargo business., said Alexandre de Juniac, IATA's Director General and CEO.
Latin America
Our region experienced the largest decline among the regions during December, with -5,3%, in addition to being the only one with a reduction in capacity (-3,1%).
In contrast, looking at the annual results for 2019, Latin America was the second best performing region, recording a 0,4% drop in demand and a 4,7% increase in capacity, resulting in an occupancy factor of 35% (-1,8 pp).
"Social unrest and economic difficulties in several key countries, especially during the second half of the year, led to the worst results in international cargo demand in Latin America since 2015," IATA concluded.
#AirCargo performance in 2019:
Air freight demand fell by 3.3% compared to 2018, – the first year of declining volumes since 2012 & the weakest performance since the global financial crisis in 2009.
? See the full analysis: https://t.co/fOf4v1Mq1D pic.twitter.com/Nu0ejnzvrx
- IATA (@IATA) February 5, 2020
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