Decline in air freight volumes may be bottoming: IATA

GENEVA - International Air Transport Association (IATA) data for global air freight markets shows air cargo volumes down 1.2% in November 2015 compared to November 2014, but total cargo volumes expanded compared to October 2015, and were higher than the low point in August. “This indicates that the decline in cargo demand may be bottoming out,” IATA says. 

Negative year-on-year comparisons occurred across all regions with the exception of the Middle East. Of the major markets that together comprise more than 80% of total trade, Europe was down 2.0%, North America by 3.2%, and Asia-Pacific by 1.5%.
The comparative weakness in these regions was driven largely because the performance in November 2014 was very strong. Latin American and African markets also fell, by 6.4% and 6.0% respectively. The Middle East region posted 5.4% growth.
"The freight performance in November was a mixed bag. Although the headline growth rate fell again, and the global economic outlook remains fragile, it appears that parts of Asia-Pacific are growing again and globally, export orders are looking better, said Tony Tyler, IATA’s Director General and CEO.
“In fact, the downward trend in volumes appears to be bottoming out. But there is a great deal of uncertainty. The current volatility of stock markets shows how much the health of the global economy – upon which air cargo depends - remains on a knife-edge."  www.iata.org (ATI).