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According to the latest periodic data released by the International Air Transport Association (IATA), in October 2018, global air cargo demand (in tons of kilometres) increased by 3.19 months (2.5 being the lowest growth in 29 months) over the same period last year. In October 2018, freight capacity (measured in kilometres of available tons of freight) increased by 5.4% year-on-year, exceeding demand growth for the eighth consecutive month. The sustained development of international e-commerce and the improvement of global investment cycle have promoted the growth of freight demand. However, demand continues to be adversely affected by the following factors:
Export orders from all major exporting countries fell in October; delivery times for suppliers in Asia and Europe had been extended; and consumer confidence had fallen compared with the high levels at the beginning of 2018.
IATA Director-General and Chief Executive Officer) said: Freight transportation is a difficult business, with the end of 2018, the future of freight transport is optimistic. Despite trade tensions, they are still growing slowly and steadily. The development of e-commerce not only compensates for the downturn in the traditional market, but also promotes a steady rise in returns in the busy fourth quarter of each year. We must be aware of a series of adverse economic factors facing the industry, but freight will remain closed in a positive way this year.
In October 2018, the freight demand of airlines in all regions except Africa increased year by year. Asia Pacific Airlines'freight demand in October 2018 increased by 1.9% compared with the same period last year, unchanged from last month. The prolonged delivery time of suppliers from exporting countries, especially China and Korea, has had a negative impact on freight demand. As a region of air cargo volume in the world, the air cargo volume in the Asia-Pacific region exceeds one third of the world air cargo volume, but the risk posed by the escalation of trade tensions in the region remains high. Capacity growth 4.2.
North American Airlines experienced the fastest freight growth in October 2018, with freight demand increasing by 6.6% and 8.2% over the same period last year. American Airlines benefited from a strong U.S. economy and strong consumer spending that helped boost air cargo demand.
Compared with the same period last year, the freight demand of European International Air Transport Corporation increased by 1.4% in October 2018, while German exporters were 1.9 large continental freight exporters, which did not perform well. The prolonged delivery time of suppliers had a negative impact on freight demand. Seasonally adjusted international air cargo demand continued to decline in October, with cargo demand generally weak.
In October 2018, the freight volume of Middle East Airlines increased by 5.0% year-on-year, showing signs of a seasonally adjusted rebound in international air cargo demand due to increased trade in and out of Europe and Asia. Latin American airlines'freight demand grew by 0.3% year-on-year in October 2018 and fell by 0.9% for the first time in 11 months. Over the past five months and four months, international freight volume has declined month by month, and the main markets in the region are generally weak.
In October 2018, African Airlines'freight demand fell by 4.2% compared with the same period last year, the seventh decline in eight months. Capacity grew by 5.4% year-on-year, and demand for major markets in and out of Africa remained weak. However, in recent months, seasonally adjusted international freight volumes have stopped declining and rebounded sharply.