International air-cargo volume tumbled 7.7 percent in September from a year ago, the biggest monthly decline since early 2001, the International Air Transport Association said.
Asia-Pacific, home to the world’s biggest air-cargo carriers, suffered the biggest drop, down 10.6 percent year-on-year. Traffic in Europe and North America fell 6.8 percent and 6 percent.
Passenger traffic in September declined 2.9 percent from a year ago, IATA said.
The fourth successive monthly year-on-year decline in cargo shipments slowed growth in the first nine months of the year to 0.1 percent, with all regions except the Middle East and Africa reporting negative results.
“The deterioration in traffic is alarmingly fast-paced and widespread,” said IATA Director-General Giovanni Bisignani. “Even the good news that the oil price has fallen to half its July peak is not enough to offset the impact of the drop in demand.”
The group warned that if the market continues to weaken, global airline losses in 2008 likely will exceed its forecast of $5.2 billion.
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