Figures issued by the International Air Transport Association show airlines carried 11% less cargo and almost 3% fewer passengers in July, than in the same month a year ago.
But the global industry group says the decline was less than in June, and compared with the previous month both measures actually increased by more than 3%.
IATA says the figures are a good indicator of the health of world trade.
It says there are signs a recovery in demand for air transport has begun, although it believes there are good reasons to expect the path of further recovery to be volatile.
