As per IATA (The International Air Transport Association), global air freight markets showing a fall in air cargo demand in July compared to the same month last year. The data released by IATA shows 0.6% FTK (freight tonne kilometers) fall in air freight volumes which is in line with weaker global economic growth.
The decline was broad-based across all regions with the exception of Africa and the Middle East. However the most pronounced falls were in the Americas, where international FTK volumes were down more than 5% compared to July 2014.
“The recent stock-market turmoil shows that investors have real fears about the strength of the global economy. And the disappointing July freight performance is symptomatic of a broader slowdown in economic growth. The combination of China’s continued shift towards domestic markets, wider weakness in emerging markets, and slowing global trade indicates that it will continue to be a rough ride for air cargo in the months to come,” said Tony Tyler, IATA’s Director General and CEO.