KUALA LUMPUR: Demand for global air freight, measured in freight tonne kilometres (FTKs), decreased by 3.3 per cent in 2019 compared to 2018, according to the International Air Transport Association (IATA). For the month of December, cargo volumes contracted 2.7 per cent y-o-y while capacity rose 2.8 per cent y-o-y. “This was the first year of declining freight volumes since 2012, and the weakest performance since the global financial crisis in 2009 when air freight markets contracted by 9.7 per cent. “Air cargo’s performance in 2019 was dampened by weak growth in global trade,” it said in a statement today. “With all the restrictions being put in place, it would certainly be a drag on economic growth and 2020 is will be another challenging year for the air cargo business,” he added.

Source: New Strait Times February 06, 2020 04:18 UTC