Middle East air cargo demand slumps 4.5% in January

Regional freight volumes contract as global air cargo demand slumps to a three-year low
Middle East air cargo demand slumps 4.5% in January
By Sam Bridge
Thu 07 Mar 2019 01:52 PM

Middle Eastern airlines’ freight volumes contracted 4.5 percent in January as global air cargo demand slumped to a three-year low, according to the International Air Transport Association (IATA).

IATA said capacity increased by 4.1 percent compared to the year-earlier period, adding that seasonally-adjusted international air cargo demand, which trended upwards for the past three months helped by stronger trade to/from Europe and Asia, has started to decline.

Globally, IATA said air cargo demand decreased 1.8 percent in January, the worst performance in the last three years.

Freight capacity rose by 4 percent year-on-year in January - the eleventh month in a row that capacity growth outstripped demand growth.

Demand for air cargo continues to face significant headwinds as global economic activity and consumer confidence have weakened.

”Air cargo markets contracted in January. This is a worsening of a weakening trend that started in mid-2018. Unless protectionist measures and trade tensions diminish there is little prospect of a quick re-bound,” said Alexandre de Juniac, IATA’s director general and CEO.

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.