Middle East airfreight capacity plummets as carriers suspend services
Airfreight capacity in the Middle East has plummeted since the outbreak of hostilities between Israel ...
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
Lack of inventory re-stocking and a softening of global trade has seen air freight grow at its slowest pace in 22 months, according to the latest figures from IATA. Freight tonne km grew 1.7% in March, year-on-year, and five percentage points below February. Capacity, meanwhile, outpaced demand for the first time in 20 months.
“It’s normal that growth slows at the end of a restocking cycle,” said Alexandre de Juniac, IATA’s director general. “That clearly has happened. Looking ahead we remain optimistic that air cargo demand will grow 4-5% this year. But there are obviously some headwinds. Oil prices have risen strongly, and economic growth is patchy. The biggest damage could be political. The implementation of protectionist measures would be an own-goal for all involved—especially the US and China.”
You can see the full March report here.
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