The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), decreased 4.7% in February 2019, compared to the same period in 2018. This was the fourth consecutive month of negative year-on-year growth and the worst performance in the last three years.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 2.7% year-on-year in February 2019. This was the twelfth month in a row that capacity growth outstripped demand growth.
All regions reported a contraction in year-on-year demand growth in February 2019 except for Latin America. Asia-Pacific airlines saw demand for air freight contract by 11.6% in February 2019, compared to the same period in 2018. Capacity decreased by 3.7%. North American airlines saw demand contract by 0.7% in February 2019, compared to the same period a year earlier. Capacity increased by 7.1%. European airlines experienced a contraction in freight demand of 1.0% in February 2019 compared to a year ago. Capacity increased by 4.0% year-on-year. Middle Eastern airlines’ freight volumes contracted 1.6% in February 2019 compared to the year-ago period. Capacity increased by 3.1%. Latin American airlines posted the fastest growth of any region in February 2019 versus last year with demand up 2.8%. Capacity increased by 14.1%.African carriers saw freight demand decrease by 8.5% in February 2019 while capacity grew 6.8% year-on-year.
