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Airfreight tumbles in February

[ March 4, 2020   //   ]

Airfreight analyst Clive Data Services said that air cargo – measured by global chargeable weight – fell in February by nearly 9% versus 2019 due to the effects of the corona virus on world trade.

It said that while a basic year-on-year comparison of volumes would have produced a decline of close only 2, adjusting for the early Chinese New Year and the extra day in leap year February takes the overall decline to close to -9%.

Air cargo volumes out of Hong Kong are still 30% below their level post Chinese New Year and 23% less than in the same week of last year. On a more positive note, the step-by-step growth in chargeable weight does indicate that Chinese demand for cargo capacity is showing the early signs of shifting gear.

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