Regional Performance
 

Airlines in Asia-Pacific, Latin America and the Middle East suffered sharp declines in year-on-year growth in total air freight volumes in November 2019, while North American carriers experienced a more moderate decline. Europe and Africa were the only regions to record growth in air freight demand compared to November 2018. 
 
• Asia-Pacific airlines saw demand for air freight contract by 3.7% in November 2019, compared to the year-earlier period. This was the sharpest drop in freight demand of any region for the month. Capacity increased by 1.8%. The US-China trade war has significantly affected the region, with demand on the large Asia-North America market down 6.5% year-on-year in October (latest available data). However, the thawing of US-China trade relations and robust economic growth in key regional economies are positive developments. 

• North American airlines saw demand decrease by 1.1% in November 2019, compared to the same period a year earlier. Capacity increased by 3.3%. Slower growth in the US economy and trade tensions with China have affected demand. However, positive progress in trade negotiations between both countries highlighted by the ‘phase one’ deal is a positive development. 

• European airlines posted a 2.6% increase in freight demand in November 2019 compared to the same period a year earlier. Better than expected economic activity in the third quarter in some of the region’s large economies helped support demand. Capacity increased by 4.0% year-on-year.  

• Middle Eastern airlines’ freight volumes decreased 3.0% in November 2019 compared to the year-ago period – a significant improvement over the 5.7% decrease in October. Capacity increased by 2.6%. Against a backdrop of operational and geopolitical challenges facing some of the region’s key airlines, seasonally-adjusted freight volumes in the region have continued a modest upwards trend, which is a positive development for the region’s carriers. However, escalating geopolitical tensions threaten the regions’ carriers in the period ahead.  

• Latin American airlines experienced a decrease in freight demand in November 2019 of 3.4% compared to November 2018. Various social and economic headwinds in the region’s key economies have impacted the region’s air cargo performance. Capacity decreased by 2.3% year-on-year.

• African carriers posted the fastest growth of any region in November 2019, with an increase in demand of 19.8% compared to the same period a year earlier. Strong trade and investment links with Asia contributed to the positive performance. Capacity grew 13.7% year-on-year.