The International Air Transport Association (IATA) released data for global air freight markets showing that demand rose 2.3% in August 2018, compared to the same period the year before.
IATA says this pace of growth was unchanged from the previous month but was less than half the five-year average growth rate of 5.1%.
Growth is being supported by a number of factors, including buoyant consumer confidence, an upturn in the global investment cycle and growing international e-commerce.
All regions reported year-on-year demand growth in August 2018, except Africa which contracted. All regions reported that capacity growth exceeded growth in demand.
“Buoyant consumer confidence, the growth of international e-commerce and the broad-based global economic upturn are behind the growth. But there are downside risks,” said Alexandre de Juniac, IATA’s Director General and CEO.
“Order books are weakening and supply delivery times are lengthening. And the growing trade tensions are a specter over the industry. The early focus of tariffs was not on products typically carried by air. But as the list of tariffs grows so does the air cargo industry’s vulnerability. And, we can expect souring trading relations to eventually impact business travel. There are no winners in trade wars.”
Source: IATA< Return