Air cargo transport volumes maintained their level of recovery in November 2020 compared to October of the same year, but still far from 2019 levels, according to data from the International Air Transport Association (IATA). The figures show that capacity remains limited due to the loss of cargo capacity on passenger aircraft that remain idle.
Seasonally adjusted demand was 1.6% in November compared to October, slightly better than the 1.1% growth rate recorded in October compared to the previous month of September.
At global level and in an annual comparison (November 2020 vs. November 2019), IATA said that demand, measured in tonnes of cargo per kilometre (CTK), fell by 6.6% (-7.7% in international operations). That result is at the level of the 6.2% drop recorded in October 2020 compared with the same period in 2019.
However, IATA admits that the annual decline is “distorted” as in November 2019 there was an increase in demand after the slowdown caused by the trade war between the United States and China.
At global capacity level, measured in tonnes of available cargo per kilometre (ACTK), it fell by 20% in November 2020 (-21.3% in international operations) compared to the same period in 2019, almost three times more than the fall in demand. “The capacity crisis is the result of a 53% reduction in cargo capacity on passenger aircraft that remain idle,” IATA analysts admit, however, considering that this fall was “partially offset by a 20% increase in cargo aircraft capacity.
The Latin American region suffered the biggest fall in November 2020 compared with the same period in 2019, with IATA figures showing a 19.2% drop in air cargo transport, followed by Europe (-13.4%), Asia-Pacific (-10.6%), North America (-5%), Africa (-2.6%) and finally the Middle East (-2.3%).
In Europe, IATA analysts admit that air cargo transport in the region has been significantly affected by the resurgence of covid-19, with an impact on consumer demand services and commercial activity.
The association estimates that air cargo measurements will return to 2019 levels around March or April 2021.
