Global air freight data released by the International Air Transport Association (IATA) show that demand, measured in freight tonne kilometers (FTKs), decreased 4.7% in February 2019, compared to the same period in 2018.

IATA notes that this was the fourth consecutive month of negative year-on-year growth and the worst performance in the last three years.
Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 2.7% year-on-year in February 2019. This was the twelfth month in a row that capacity growth outstripped demand growth.

According to IATA, factors weighing on the air cargo market include:

• trade tensions;

• weaker global economic activity and consumer confidence;

• falling global export orders since September 2018.

All regions reported a contraction in year-on-year demand growth in February 2019 compared to the same period the previous year, except for Latin America. Asia-Pacific airlines saw the sharpest fall (–11.6%), followed by Africa (–8.5%), Middle East (–1.6%), Europe (–1%), North America (0.7%). Airlines in Latin America saw demand pick up by 2.8%.