- 5 February 2020
- Transport / Logistics Services
IATA has released figures showing that 2019 saw the biggest drop in air cargo volumes for ten years. Measured in freight tonne kilometres (FTK) they dropped by 3.3% year on year.
While FTKs dropped capacity, measured in available FTKs, grew by 2.1%. Freight volumes dropped however, for the first time since 2012.
In December, global air cargo volumes dropped 2.7% while capacity grew by 2.8%. In Europe volumes fell by 1.8% and capacity grew by 3.4%.
Alexandre de Juniac, IATA’s director general and chief executive, said: “Trade tensions are at the root of the worst year for air cargo since the end of the global financial crisis in 2009. While these are easing, there is little relief in that good news as we are in unknown territory with respect to the eventual impact of the coronavirus on the global economy.
“With all the restrictions being put in place, it will certainly be a drag on economic growth.
“And, for sure, 2020 will be another challenging year for the air cargo business.”