According to recent statistics, global air freight has decreased to a “three-year low” this February. The figures are down 4.7% since last February, according to International Air Transport Association (IATA).
Measured in available freight tonne kilometres, the data which illustrated data capacity rose by 2.7% year-over-year in February 2019. It is now the fourth year running that the negative year-over-year capacity growth has exceeded demand growth.
Director General and CEO Alexandre de Juniac stated that
“Cargo is in the doldrums with smaller volumes being shipped over the last four months than a year ago. And with order books weakening, consumer confidence deteriorating and trade tensions hanging over the industry, it is difficult to see an early turnaround. The industry is adapting to new markets for e-commerce and special cargo shipments.
“But the bigger challenge is trade is slowing. Governments need to realize the damage being done by protectionist measures. Nobody wins a trade war. We all do better when borders are open to people and to trade.”