The International Air Transport Association (IATA) released May 2021 data for global air cargo markets showing that demand continued its strong growth trend, going above pre-COVID levels.
As comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted, all comparisons to follow are to May 2019 which followed a normal demand pattern.
“Propelled by strong economic growth in trade and manufacturing, demand for air cargo is 9.4% above pre-crisis levels. As economies unlock, we can expect a shift in consumption from goods to services. This could slow growth for cargo in general, but improved competitiveness compared to sea shipping should continue to make air cargo a bright spot for airlines while passenger demand struggles with continued border closures and travel restrictions,” said Willie Walsh, IATA’s Director General.
Asia-Pacific airlines saw demand for international air cargo increase 5.3% in May 2021 compared to the same month in 2019. This was a decrease compared to the previous month (5.9%) due to a slight slowdown in growth in several large trade routes such as Within Asia. International capacity remained constrained in the region, down 16.9% versus May 2019. As was the case in April, the region’s airlines reported the highest international load factor at 75.2%.
North American carriers posted a 25.5% increase in international demand in May 2021 compared to May 2019. This was on par with April’s performance (25.4%) and the strongest of all regions. Underlying economic conditions and favorable supply chain dynamics remain supportive for air cargo carriers in North America. International capacity grew by 1.6% compared with May 2019.
European carriers posted an 5.7% increase in demand in May 2021 compared to the same month in 2019. This was a decrease in performance compared to the previous month (11.5%) due to a slight slowdown in growth on key trade routes including Europe – Asia and Within Europe. International capacity decreased by 17.3% in May 2021 versus May 2019, remaining unchanged from the previous month.
Middle Eastern carriers posted a 14.1% rise in international cargo volumes in May 2021 versus May 2019. This was a slight decrease compared to the previous month (15.6%). Seasonally adjusted volumes remain on a robust upward trend. International capacity in May was down 6.1% compared to the same month in 2019, a robust improvement from the 10.1% drop in April.
Latin American carriers reported a decline of 14% in international cargo volumes in May compared to the 2019 period. This was the worst performance of all regions, but a significant improvement compared to the previous month, which saw a 32.3% drop in demand. Seasonally adjusted demand also rose strongly in May. International capacity decreased 24.9% compared with May 2019, an improvement over the 52.3% decrease in April.
African airlines’ cargo demand in May increased 24.5% compared to the same month in 2019. This was a decrease in performance compared to the previous month (34.0%) due to a slowdown in trade flows between Africa and Asia. May international capacity increased by 0.5% compared to May 2019, remaining relatively unchanged from April.
Source: IATA