Air freight demand in August was 2.3% above the same period a year ago, while capacity grew by 4.5% according to the International Air Transport Association (IATA).

Alexandre de Juniac, IATA’s director general and chief executive, said: “August demand for air cargo grew at 2.3 per cent, unchanged from the previous month. 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. Order books are weakening and supply delivery times are lengthening. And the growing trade tensions are a spectre 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,” said de Juniac.

European airlines saw the fastest growth of any region in August with an increasing demand of 3.7% by comparison in the same period in 2017. Despite manufacturing firms exported books in Europe weakening international air cargo demand hi still trended at an annualised growth rate of 8% according to IATA.