Airports Council International (ACI), the trade association of the world’s airports, announced that the air freight industry’s difficulties lessened somewhat in November, with global volumes only declining by -2%, up from a -2.9% drop in October. November’s year-to-date change stands at -3%, with seemingly no chance left of returning to positive territory before the end of the year.
ACI notes that the international segment saw a particularly large uptick, only falling by -1.8% on a year-over-year basis, compared to October’s -4.5%. The resulting year-to-date figure went sideways, however, standing at -4.4%.
Domestic freight was a drag on the improvements generated by the international segment, dropping significantly in November. The former declined by -2.5% during the month, bringing its year-to-date figure to +0.4%. Unless that drop in domestic freight volumes reverses in December, the chances of the segment following the international segment in posting declining volumes for 2019 is quite high.
North America’s total freight volumes fell by -4% during the month, to reach -0.8% on a year-to-date basis. Europe remained in negative territory in November, with volumes falling by -0.2%, bringing year-to-date growth to -2.5%. Asia-Pacific posted a decline of -1.5% in November, after a much more difficult month of October (-4%).
The Middle East’s freight volumes fell by -1% in November, while Latin America-Caribbean declined by -2%. The two freight markets remained in comparable territory on a year-to-date basis, however, at -2.9% and -3.3% respectively. Africa, despite the success of its passenger market, suffered a substantial freight decline in November, falling by -4.5%.
Source: ACI< Return