- 9 October 2019
- Transport / Logistics Services
Air freight demand fell by 3.9% year on year to August according to IATA figures. This is the first time since the 2008 financial crisis that demand has fallen for 10 consecutive months.
Freight capacity however has grown by 2% so far this year, meaning that capacity has outstripped demand for 16 straight months.
The trade war between the US and China has exacerbated problems, with global trade as a whole falling 1% over the last year.
IATA director general and chief executive Alexandre de Juniac said: “The impact of the US-China trade war on air freight volumes was the clearest yet in August. Year-on-year demand fell by 3.9 per cent. Not since the global financial crisis in 2008 has demand fallen for 10 consecutive months. This is deeply concerning.”
De Juniac suggested that thanks to no sign of cooling of the trans Pacific trade issues the gloom is set to continue.