KUALA LUMPUR (Jan 9): Data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), was flat (0%) year-on-year (y-o-y) in November 2018, according to the International Air Transport Association (IATA).

In a statement yesterday, IATA said this was the slowest rate of growth recorded since March 2016, following 31 consecutive months of year-on-year increases.

IATA said freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 4.3% y-o-y in November 2018.

It said this was the ninth month in a row that capacity growth outstripped demand.

IATA said while international e-commerce continues to grow, overall demand faced significant headwinds, including signs of weakness in global economic activity; a contraction in export order books in all major exporting nations, with the exception of the US; shorter supplier delivery times in Asia and Europe; and weakened consumer confidence compared to very high levels at the beginning of 2018.