Earthblog

In a statement from the International Air Transport Association (IATA) last week, the effect of the global economic slowdown was clearly seen when they announced a 13.5% drop in international cargo movement in November. Air freight moves 35% of products internationally and a 13.5% drop is the largest since 2001.

The International Air Transport Association (IATA) announced results for November showing a 4.6% drop in international passenger traffic and a 13.5% drop in international cargo. International capacity dropped by 1.0%. The November international passenger load factors stood at 72.7% which is a decline of approximately 3 percentage points over the same month last year.

“The 13.5% drop in international cargo is shocking. As air cargo handles 35% of the value of goods traded internationally, it clearly shows the rapid fall in global trade and the broadening impact of the economic slowdown. By comparison, this is largest drop since 2001, in the aftermath of September 11,” said Giovanni Bisignani, IATA’s Director General and CEO.

Tags: air freight