Saturday, May 18, 2024
ACI World: International freight remains weak in May

ACI World: International freight remains weak in May

While global passenger traffic remains resilient, airfreight continued to struggle in May, Airports Council International (ACI) World reports.

The global airfreight market fell 2.8% in May, and is down 2.7% on a year-to-date basis due to weak international volumes.

International freight was down 5.1% year-on-year in May and 4.7% year-to-date, compared to domestic growth of 2.4% in May and 1.8% year-to-date.

Angela Gittens, director of ACI World says: “The global economy entered a period of slowdown during this time, which contributed to the continued weakening in the air freight industry.

“With economic tensions between Japan and South Korea flaring, and the United States standing firm on its protectionist trade practices, the air transport industry continues to face a challenging year.”

North America was the only region to grow both year-on-year in May and on a year-to-date basis, at 0.4% and 0.7% respectively.

Europe was down 1.8% year-on-year in May, an improvement on the fall of 5.5% registered in April.

Asia-Pacific fell 5.7% in May, while Latin America-Caribbean was down 2.4%, Africa by 2.9% and Middle East by 4%.

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