São Paulo – The volume of cargo handled by Middle East carriers was down 1.6% year-on-year in February, as per a report released this Wednesday (3) by the International Air Transport Association (IATA).
Cargo capacity was up 3.1% for Middle East airlines. According to IATA, there’s a clear downtrend in season-adjusted international air cargo demand, partly owed to a weakening of trade with North America.
IATA’s report also notes that global demand for air transportation was down 4.7% year-on-year for the fourth straight month in February – the worst result in three years. Global freight capacity was up 2.7% in February, in the 12th straight month to see capacity outpace demand.
Latin America carriers posted the strongest growth in the planet in February, with a 2.8% hike in demand. IATA said that despite economic uncertainty in the region, several key markets are posting robust numbers. Season-adjusted international cargo demand climbed for the first time in six months, while capacity was up 14.1%.
Latin America was the only region to register annual growth, offsetting the modest, short-lived decline seen in January. However, the association says it’s still early to tell whether demand will keep going up, given the continuing political and economic uncertainty plaguing many of the region’s countries.
Translated by Gabriel Pomerancblum
