Global air cargo flown tonnages decline in August

According to the latest figures from WorldACD Market Data, “Worldwide air cargo flown tonnages have further declined in August with a 5 per cent drop last week alone and a total 10 per cent decline in the first three weeks of the month.” This decline is believed to be steeper than last year when the industry saw a 6 per cent decline in the same three weeks, added report. The report stated, “In the Week 3 (August 15-21), worldwide chargeable weight decreased 5% compared with the previous week, and the average worldwide rate decreased slightly, based on the more than 350,000 weekly transactions covered by WorldACD’s data and analysis of the main international air cargo lanes. And comparing the last two weeks with the preceding two weeks (2Wo2W), average worldwide rates decreased -1%, while chargeable weight decreased by -6%, despite a capacity increase of +1%.”