IATA: Airfreight demand growth slows in May

Freight demand decreased or was flat in May across all regions, with the exception of Europe and the Middle East, according to the International Air Transport Association.    Airfreight activity slowed to a 0.9 percent year-over-year growth rate in May, as measured in freight ton kilometers, according to the International Air Transport Association (IATA).
   Meanwhile, airlines continue to experience downward pressure on yields as freight capacity increased 4.9 percent year-over year. Overall load factors declined 1.7 percent.
   Freight demand decreased or was flat in May across all regions, with the exception of Europe and the Middle East. Those regions recorded growth in air cargo volumes of 4.5 percent and 3.2 percent, respectively, compared to the same month a year ago. The positive European performance corresponds with an increase in export orders in Germany over the last few months. Airfreight volumes fell 9.7 percent in Latin America. The strong dollar contributed to a 0.2 percent decline in volumes for North American carriers.
   The airline trade association attributed the soft demand for airfreight to weakness in the global economy and overall trade. Airfreight volumes have been mostly flat since 2014.