Korean Air reported a 4.7 per cent year-on-year decline in cargo revenue for the third quarter, citing increased risks from US and Chinese tariffs, Reuters reports.

The airline said cargo revenue fell to KRW1 trillion (US$700 million), while passenger revenue dropped 7.5 per cent during the same period.

Korean Air attributed the slowdown in air cargo growth to weaker demand for online shopping and heightened trade tensions between the US and China.

The company said uncertainty continues to affect the cargo shipping industry, though it expects online shopping demand to rise during the year-end holiday season.