IATA blames ongoing US-China tensions for longest freight decline since 2008

The International Air Transport Association (IATA) has warned that ongoing tensions between the US and China is a major factor in the tenth consecutive month of year-on-year decline in freight volumes. This is the longest period of decline since 2008 when the global financial crisis was at its peak. The new report by the IATA has said that freight tonne kilometers (FTKs), contracted by 3.9% in August 2019, compared to the same period in 2018. Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by 2% year-on-year in August 2019. Capacity growth has now outstripped demand growth for the