Demand for air freight fell 4.8 per cent in June compared to a year earlier, according to the International Air Transport Association.
This is the eighth consecutive month of year-on-year decline in freight volumes, measure in freight tonne kilometres.
Europe was down 3.6 per cent, North America was down 4.6 per cent and Asia Pacific was down 5.4 per cent.
It warned that signs of a modest recovery in recent months appear to have been premature, with the June contraction broad-based across all regions with the exception of Africa.
“Global trade continues to suffer as trade tensions—particularly between the US and China—deepen. As a result, air cargo markets continue to contract. Nobody wins a trade war. Borders that are open to trade spread sustained prosperity. That’s what our political leaders must focus on,” said Alexandre de Juniac, IATA’s director general and chief executive.
