Cargo may be airlifted 9.4pc above pre-Covid levels: IATA

Geneva [Switzerland], July 8 (ANI): Global demand measured at cargo ton-kilometers increased by 9.4% compared to May 2019, the International Air Transport Association (IATA) said.

Seasonally adjusted demand increased 0.4% month-on-month in May, improving for the 13th consecutive month.

Growth in May slowed slightly compared to April, when demand increased 11.3% from pre-Covid-19 levels (April 2019). Nevertheless, air freight has surpassed global commodity trade for the fifth straight month.

According to IATA, North American airlines contributed 4.6 percentage points to the 9.4% growth rate in May. Airlines in all regions except Latin America also supported growth.

As passenger planes continue to land, capacity is 9.7% below pre-Covid-19 levels (May 2019). Seasonally adjusted capacity increased 0.8% month-on-month in May, improving for the fourth straight month. This indicates that the capacity shortage is slowly resolving.

The underlying economic conditions and favorable supply chain dynamics continue to support air cargo.

“Demand for air cargo is 9.4% above pre-crisis levels, boosted by strong economic growth in trade and manufacturing. We can expect consumption to shift from goods to services as the economy unleashes.” Said Willy Walsh, director of IATA.

“This can generally slow freight growth, but as it becomes more competitive compared to sea freight, air freight continues to be a bright spot for airlines, and passenger demand continues to close borders. Suffering from travel restrictions, “he said.

Asia Pacific Airlines increased demand for international air cargo in May by 5.3% compared to the same month in 2019. This was down compared to the previous month (5.9%) due to a slight slowdown in the growth of some large trade routes, including: Like in Asia.

International capacity in the region has declined by 16.9% compared to May 2019 and remains constrained. As in April, airlines in the region reported the highest international load factor of 75.2%. (ANI)