May 2021 air freight 9.4% above pre-COVID levels: IATA
Seasonally adjusted demand rose 0.4% month-on-month in May, the 13th consecutive month of improvement.
The pace of growth slowed slightly in May compared to April, which saw demand rise 11.3% from pre-COVID-19 levels, that is, April 2019. Air cargo has outperformed global merchandise trade for the fifth consecutive month.
North American carriers contributed 4.6 percentage points to the 9.4 percent growth rate in May. Airlines in all other regions except Latin America also supported growth.
Capacity remains limited to 9.7% below May 2019 levels due to the ongoing immobilization of passenger aircraft. Seasonally adjusted capacity increased 0.8% month-on-month in May, the fourth consecutive month of improvement indicating that the capacity crisis is slowly resolving.
The underlying economic conditions and favorable supply chain dynamics remain favorable for air cargo, IATA said in a press release.
âAs economies unlock, we can expect a shift in consumption from goods to services. This could slow freight growth in general, but improving competitiveness over maritime transport should continue to make air freight a bright spot for airlines as passenger demand struggles with continued border closures. and travel restrictions, âsaid Willie Walsh, IATA CEO.
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Global air freight demand, measured in freight tonne-kilometers (CTK), increased 9.4% in May this year compared to the same month in 2019, showing that demand has continued its strong upward trend. , according to data from Global Air Cargo Markets for the month recently released by the International Air Transport Association (IATA).