THERE are mixed signals regarding air cargo's outlook after November saw another double-digit percentage decline in demand.
The latest IATA statistics show that airfreight demand in cargo tonne km terms (CTK) declined by 13.7 per cent year on year in November. Capacity for the month fell by 1.9 per cent against last year and load factors were down 6.7 percentage points to 49.1 per cent.
The decline is the ninth demand decline in a row and reflects high inflation that is curtailing the spending capacity of households, the ongoing war in Ukraine disrupting trade flows, and the unusual strength of the US dollar making commodities traded in dollars more expensive in local currency terms.
Looking ahead, the airline association said the outlook was mixed, reports London's Air Cargo News.
'Air cargo performance softened in November, the traditional peak season,' said IATA director general Willie Walsh.
'Resilience in the face of economic uncertainties is demonstrated with demand being relatively stable on a month-to-month basis. But market signals are mixed.
'November presented several indicators with upside potential: oil prices stabilized, inflation slowed and there was a slight expansion in goods traded globally. But shrinking export orders globally and China's rising Covid cases are cause for careful monitoring.'
Looking at regional performance, airlines based in the Asia Pacific region suffered the largest percentage decline as demand in CTK terms fell 18.6 per cent year on year.
'Airlines in the region continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to China's rising Covid cases,' IATA said.
North American carriers saw their cargo traffic slide by 6.6 per cent year on year in November, which was an improvement on the 8.6 per cent fall registered in October.
European carriers noted a 16.5 per cent decline in November. Middle Eastern carriers noted a 14.7 per cent year-on-year decrease in cargo volumes in November as they were affected by cargo volumes heading to/from Europe.
Latin American carriers registered the strongest performance of any region as demand increased by 2.8 per cent. Finally, African airlines saw cargo volumes decrease by 6.3 per cent in November.
SeaNews Turkey
The latest IATA statistics show that airfreight demand in cargo tonne km terms (CTK) declined by 13.7 per cent year on year in November. Capacity for the month fell by 1.9 per cent against last year and load factors were down 6.7 percentage points to 49.1 per cent.
The decline is the ninth demand decline in a row and reflects high inflation that is curtailing the spending capacity of households, the ongoing war in Ukraine disrupting trade flows, and the unusual strength of the US dollar making commodities traded in dollars more expensive in local currency terms.
Looking ahead, the airline association said the outlook was mixed, reports London's Air Cargo News.
'Air cargo performance softened in November, the traditional peak season,' said IATA director general Willie Walsh.
'Resilience in the face of economic uncertainties is demonstrated with demand being relatively stable on a month-to-month basis. But market signals are mixed.
'November presented several indicators with upside potential: oil prices stabilized, inflation slowed and there was a slight expansion in goods traded globally. But shrinking export orders globally and China's rising Covid cases are cause for careful monitoring.'
Looking at regional performance, airlines based in the Asia Pacific region suffered the largest percentage decline as demand in CTK terms fell 18.6 per cent year on year.
'Airlines in the region continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to China's rising Covid cases,' IATA said.
North American carriers saw their cargo traffic slide by 6.6 per cent year on year in November, which was an improvement on the 8.6 per cent fall registered in October.
European carriers noted a 16.5 per cent decline in November. Middle Eastern carriers noted a 14.7 per cent year-on-year decrease in cargo volumes in November as they were affected by cargo volumes heading to/from Europe.
Latin American carriers registered the strongest performance of any region as demand increased by 2.8 per cent. Finally, African airlines saw cargo volumes decrease by 6.3 per cent in November.
SeaNews Turkey