IATA reports November cargo capacity contracted as demand recovers

IATA’s report on the November 2020 air cargo market statistics shows demand recovering compared to the previous month, with year-over-year demand still firmly negative. Meanwhile, capacity remains constrained across all regions. Globally, demand in cargo tonne kilometers (CTKs) was down 6.6% YoY industrywide and down by 7.7% in international CTKs. This was slightly worse than October’s 6.2% YoY decline. Capacity shrank by 20% in November 2019 YoY, and just over 21% internationally. The capacity contractions are nearly three times as dramatic as those of the demand, IATA’s analysis notes. A 53% YoY decline in bellyhold capacity was slightly offset by a 20% increase in freighter capacity, the analysis added. [wpdatachart id=18] Regional differences remain stark, with North America being the only region to report an increase in traffic of 5%. North American carriers were also the only ones to report an increase of international traffic at a 1% increase. This marks the third month of growth in the last 12 months of IATA’s analyses. Asia-Pacific carriers, meanwhile, saw a decline in CTKs of 10.6% YoY, and European carriers reported a 13.7% YoY decline in demand, a contraction over October. Middle Eastern carriers saw the smallest losses in CTKs at just a 2.3% decline, and reported a 2.2% decline in YoY international cargo volumes. Latin American carriers reported a 19.2% decrease in CTKs, the worst of any region. The region also saw the greatest decrease in ACTKs YoY, 28.4%. Europe followed its lead in both categories, with declines of 13.4% and 24.9% respectively. Finally, African airlines saw a CTK decrease of 1.7% YoY in November, as well as a decrease of 19.4% in international capacity. “Air cargo demand is still down 6.6% compared to the previous year,” said Alexandre de Juniac, director general and CEO of IATA. “However we are seeing continuing month-on-month improvements. Severe capacity constraints persist as large parts of the passenger fleet remain grounded. This will put pressure on the industry as it gears up to deliver vital COVID-19 vaccines,” said de Juniac.

IATA reports November cargo capacity contracted as demand recovers

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