Global air freight volumes, measured in freight tonne kms (FTKs), decreased by 1.1% year-on-year in November 2019.
According to the latest figures from the International Air Transport Association (IATA), November’s performance was the best in eight months, with the slowest year-on-year rate of contraction recorded since March 2019.
The IATA said that November’s outcome demonstrated the growing importance of large e-commerce events such as Singles Day and Black Friday.
Freight capacity, measured in available freight tonne kms (AFTKs), rose by 2.9% year-on-year in November 2019
“Air cargo recovered slightly in November, with demand down 1.1% – a significant improvement over the 3.5% decrease in October,” said IATA director general and chief executive Alexandre de Juniac.
“However, the fourth quarter is a peak season for air cargo. So, a decline in growth is still a disappointment. Looking forward, signs of a thawing in US-China trade tensions are good news but there is still a long way to go if cargo is to achieve 2.0% growth forecast in 2020.”