Cargo tonnage at Memphis International Airport grew 2.3 percent in November as slowing volume for FedEx Express helped give the airport its lightest month for cargo in nine months.
The cargo business at Memphis fell 8.3 percent from October to November, including a 10.6 percent drop in inbound domestic shipments for FedEx, which has its main global hub at the airport.
The slim year-over-year gain was an improvement over the 1.1 percent decline Memphis reported in October from the same month the year before. But the overall figure marked an abrupt slowing in peak season express shipping, and November gave Memphis its lowest monthly cargo tonnage total since February.
That puts Memphis, which has been the world's busiest cargo airport for the past decade, on track to cede that title to Hong Kong International Airport when final 2010 figures are reported.
Hong Kong outpaced Memphis in cargo volume in the first nine months of 2010 as tonnage there grew 28.5 percent over the year before against 8 percent growth at Memphis, according to Airports Council International. Hong Kong reported a 7.1 percent increase in air cargo tonnage in November.