Good afternoon,
The current coronavirus outbreak has many Airforwarders Association members concerned about its impact on freight global volumes.
As a result of this concern, we are closely monitoring the situation and keeping our members informed as much as possible about any significant developments.
This morning, we received this
January Air Cargo Market Analysis f
r
om
our friends at IATA. While the report reflects activity before the full impact of the coronavirus outbreak, IATA provides these key observations:
- Industry-wide air cargo tonne kilometres contracted by 3.3% year-on-year in January, about a 2 percentage points faster pace of decline compared to the previous month. Seasonally adjusted volumes also ticked down amidst a softer performance from European and Middle Eastern carriers.
- The timing of the Chinese New Year holiday along with the progress in the US-China trade negotiations helped to postpone the bulk of the negative impact of the coronavirus on air cargo till February.
- With capacity growing against contracting demand, the industry-wide cargo load factor eased by 1.9 percentage points over the past twelve months.
We look forward to providing more information to our members and wish to thank and encourage members to provide feedback on their market observations as well.
Thank you.
Brandon
