2019 Investor Conference

Air Cargo Growth Slows Down • IATA suggests global freight volume will stay flat in 2019 and Asia Pacific FRTK volumes contracted due to the mounting trade tensions in the region and a economic slowdown in Mainland China. (Billion) FRTK 300 Global Asia Pacific 250 200 100 263 263 95 253 231 90 222 217 90 203 203 205 201 85 150 75 55 100 50 73 74 72 71 68 68 67 83 81 80 77 75 70 0 55 65 60 60 55 0 50 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 CHINA AIRLINES Source: IATA WATS 14

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