Global air cargo tonnage fell last month, according to market analysis by WorldACD, which said there was a steep decline over the final week of November linked to the Thanksgiving holiday in the US.
The 8% week-on-week slump came at the end of what WorldACD said was "normally a bouyant month" for air freight. Comparing the month to November last year, air cargo tonnages sent from Asia-Pacific and the Middle East were down between 29% and 22% respectively.
Prices are down on last year, WorldACD said, but remain above pre-pandemic levels. "Worldwide rates are currently -25% below their levels this time last year at an average of US$3.33 per kilo, despite the effects of higher fuel surcharges", WorldACD explained in its report.
The International Air Transport Association (IATA) this week published data showing freight demand down in October.