October continued the general pattern throughout 2019 of moderation in global passenger growth and contraction for the freight industry, according to a new report from Airports Council International (ACI) World.
Global passenger traffic grew by +2.3% in October, slightly less than the +2.6% rate recorded in September, ACI said.
“The figure remained in line with the moderation pattern observed since June, in which growth rates for the industry have hovered between +2% and +3%,” it added. Year-to-date growth was recorded at +3%.
Against a constantly challenging global economic backdrop, the decline in the global air freight industry continued in October, falling by -2.9% year-over-year.
“This was a slight improvement over September’s figure of -4% and was quite close to the industry’s year-to-date result which stands at -3%,” said ACI.
“A weakened freight industry and a moderation in passenger traffic growth was recorded in October which was mostly a continuation of the general trend in 2019,” ACI World director general Angela Gittens said. The domestic freight market managed a slight recovery but with the volatile trade environment still present in the global stage, end-of-year results could go either way, she said.
“The possibility of a decline in total freight volumes by year’s end, due primarily to international freight performance, however, is fairly assured.”
For the passenger market, the international segment grew +3.2% during the month, with year-to-date reaching +4.2%. Domestic passenger growth was just +1.5%, bringing year-to-date to +2.1%.
By region, Asia-Pacific performed the worst of the three major markets. It grew +1.1% year-over-year in October, maintaining its +1.7% year-to-date growth with two months left to the year. The region’s domestic market, with strong links to its major markets such as China, India and Japan, only gained +0.2% during the month.
Said ACI: “Now standing at +0.4% on a year-to-date basis, the segment is vulnerable to fall into negative territory by the end of the year.”
North America was once again the best-performing major market in October, posting a +3.2% year-over-year growth rate. Its year-to-date stood at +3.5%.
Europe only gained +2% during the period, just below its September’s +2.1% figure. The region’s year-to-date growth stood at +3.4%, driven by a particularly resilient international passenger segment.
Africa posted +5.2% growth in October, slower than September’s +6.7%, continuing a downtrend that started a few months back. Its year-to-date growth remains at +6.9%, and should once again be the top-ranking region for growth in 2019.
The Middle East and Latin America-Caribbean gained +5.2% and +3.1%, respectively, in October year-on-year. Year-to-date results for the Middle East was a subdued +2.2%, while Latin America-Caribbean stood at +3.9%, second only to Africa at this point.
For the freight industry, October figures showed a slight improvement over September, with the domestic segment posting positive growth during the period.
Global freight volumes declined by -2.9% but the domestic market reached +0.7% year-over-year, maintaining year-to-date results in the positive, at +0.6%.
Asia-Pacific volumes fell by -4% in October, bringing the region’s year-to-date growth rate to -5.5%. Both the domestic and international segments remained in the negative in Asia-Pacific, though its international freight market suffered the brunt of the losses, reaching -6.2% on a year-to-date basis.
Europe experienced the least decline among the major markets in October, down by -1.4%, bringing its year-to-date figure to -2.7%.
North America declined by -1.5%, with its year-to-date growth rate at -0.3%. The region’s domestic market remained in the positive, at +2.9% year-to-date, but its international market fell to -4.9%.
Africa, the Middle East and Latin America-Caribbean all posted declines in October. The regions declined by -3.4%, -4%, and -8% year-over-year, respectively. All of these regions stood at a negative rate for the first 10 months of the year; Africa reached -0.2%, while the two other regions were both at -3.1%.
Photo by chuttersnap on Unsplash