Global demand in cargo tonne kilometres (CTK) for air cargo was down 8.3 percent in May 2021, as the industry continues to grapple with global economic headwinds, according to International Air Transport Association (IATA).
The figure, however, does represent an improvement on the year-on-year decline of 9.1 percent in April.
Capacity showed an upward trend of 2.7 percent compared to May 2021 with Asia-Pacific experiencing the highest growth.
As markets stabilise with easing of lockdowns in China, this has alleviated supply chain demands with significant improvement in May.
“May offered positive news for air cargo, most notably because of the easing of some Omicron restrictions in China. On a seasonally adjusted basis, we saw growth (0.3 percent) after two months of decline,” commented Willie Walsh, IATA’s Director General.
“The return of Asian production as Covid-19 measures eased, particularly in China, will support demand for air cargo. And the strong rebound in passenger traffic has increased belly capacity, although not always in the markets where the capacity crunch is most critical. But uncertainty in the overall economic situation will need to be carefully watched,” he explains.
As air travel continues to build traction, many major international routes including Asia Pacific, North America, Europe and the Middle East are already exceeding pre-pandemic level cargo performance.
Asia Pacific saw the highest growth (32.6 percent) followed by North American markets (27.2 percent), European (22.8 percent), Middle East (13.4 percent), Latin American (2.2 percent), African (1.9 percent).
New export orders showed a downward trend in all markets except China while the Ukraine war continues to impair cargo capacity in Europe.
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