(01 Sep 2021)
IATA’s July 2021 data for global air cargo markets
shows that global demand, measured in cargo tonne-kilometers
(CTKs), was up 8.6% compared to July 2019.
Overall growth remains
strong compared to the long-term average growth trend of around
4.7%, though the pace of growth slowed slightly when compared to
June which saw demand increase 9.2% against pre-COVID19 levels.
Capacity continues to recover but is still 10.3%
down compared to July 2019.
Economic conditions continue to support air cargo
– The July export orders component of the
manufacturing Purchasing Managers Indices (PMIs) was 52.7%,
indicating a short-term boost to demand if those orders are
shipped by air.
– The inventory-to-sales ratio remains low ahead
of the peak year-end retail season.
“July was another solid month for global air cargo
demand. Economic conditions indicate that the strong growth trend
will continue into the peak year-end demand period. The Delta
variant of COVID-19 could bring some risks. If supply chains and
production lines are disrupted, there is potential for a knock-on
effect for air cargo shipments,” said Wille Walsh, IATA’s Director
Asia-Pacific airlines saw demand for international
air cargo increase 4.4% in July 2021 compared to the same month in
2019, and an improvement compared to the previous month’s 3.9%
expansion. Demand is being affected by an easing of momentum in
key activity indicators in Asia, and by congested supply chains.
North American carriers posted a 20.5% increase in
international demand in July 2021 compared to July 2019. This was
in line with June’s performance (19.8%) and the strongest of all
regions. New export orders and demand for faster shipping times
are underpinning the North American performance.
European carriers posted a 6.0% increase in demand
in July 2021 compared to the same month in 2019. This was a
marginal decrease compared to the previous month (6.8%).
Manufacturing activity, orders and supplier delivery times are
still favorable to air cargo.
Middle Eastern carriers posted an 11.3% rise in
international cargo volumes in July 2021 versus July 2019. This
was a decrease compared to the previous month (15.8%). Some
routes, however, are still posting strong performance, for example
on the large Middle East–Asia trade lanes.
Latin American carriers reported a decline of
10.2% in international cargo volumes in July compared to the 2019
period, an improvement from the -21.5% fall recorded in June.
Although Latin America continues to show the weakest regional
performance, the comparison with pre-crisis traffic levels has
been highly volatile in recent months. Several trade routes
to/from Latin America are performing well, such as North-Central
and North-South America and Europe-South America, confirming that
demand for air cargo in the region is recovering from the crisis.
African airlines’ cargo demand statistics were
unavailable at press time.
Travel Industry News,