Air, Freight News

IATA sees ray of sunshine

[ June 30, 2020   //   Chris ]

The International Air Transport Association (IATA) said the global air freight markets in May showed a slight improvement and that capacity remains unable to meet demand as a result of the loss of belly cargo operations on passenger aircraft. Demand, measured in cargo tonne-kilometers, fell by 20.3% in May (-21.5% for international operations) compared to the previous year, an improvement from the 25.6% year-on-year drop recorded in April. Global capacity, measured in available cargo tonne-kilometers, shrank by 34.7% in May (-32.2% for international operations) compared to the previous year, a slight deceleration from the 41.6% year-on-year drop in April. Belly capacity for international air cargo shrank by 66.4% in May compared to the previous year due to the withdrawal of passenger services amid the COVID-19 crisis (up slightly from the 75.1% year-on-year decline in April). This was partially offset by a 25.2% increase in capacity through expanded use of freighter aircraft.

Tags: IATA