Air Freight double slump

The air-freight market declined by 3.8% in August compared with the same period last year, doubling the 1.8% fall in July, according to figures issued by the International Air Transport Association.

The air-cargo market, which accounts for around a third of all internationally traded goods and carries a range of high-end products from computer chips to flowers, is viewed by airline executives as a good indicator of the state of the economy generally and their industry in particular.

Nearly half of the air freight traffic comes from Asia, and it saw a fall of 5.4% in August.  Major carriers in the region are experiencing a slowdown in cargo, as their volumes are driven by consumption in Europe and North America. There has not been any sign of recovery in September.