Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Wed, 7 July 2021

Global Air Cargo in May Up 9.4% Above Pre-COVID Levels

IATA's May 2021 data for global air cargo markets shows that demand continued its strong growth trend.

Global demand, measured in cargo tonne-kilometers (CTKs), was up 9.4% when compared to May 2019. Seasonally adjusted demand rose by 0.4% month-on-month, the 13th consecutive month of improvement.

The pace of growth slowed slightly in May compared to April which saw demand increase 11.3% against pre-COVID19 levels (April 2019). Notwithstanding, air cargo outperformed global goods trade for the fifth consecutive month.

North American carriers contributed 4.6 percentage points to the 9.4% growth rate in May. Airlines in all other regions except for Latin America also supported the growth.

Inside a Qatar Airways Boeing 747F. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Capacity remains constrained at 9.7% below pre-COVID19 levels (May 2019) due to the ongoing grounding of passenger aircraft. Seasonally adjusted capacity rose 0.8% month-on-month in May, the fourth consecutive month of improvement indicating that the capacity crunch is slowly unwinding.

Underlying economic conditions and favourable supply chain dynamics remain supportive for air cargo:

- Global trade rose 0.5% in April.

- The Purchasing Managers Indices (PMIs), leading indicators of air cargo demand, show that business confidence, manufacturing output and new export orders are growing at a rapid pace in most economies.

- The cost-competitiveness of air cargo relative to that of container shipping has improved. Pre-crisis, the average price of air cargo was 12 times more expensive than sea shipping. In May 2021 it was six time more expensive.

Propelled by strong economic growth in trade and manufacturing, demand for air cargo is 9.4% above pre-crisis levels, said Willie Walsh, IATAs Director General. 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.

Intl belly cargo and freighter capacity growth. Click to enlarge.

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 within Asia. International capacity remained constrained in the region, down 16.9% versus May 2019. As was the case in April, the regions 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 Aprils 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.

The complete Air Cargo Market Analysis for May 2021 can be downloaded in .pdf format here.

Note: As comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID19, unless otherwise noted, all comparisons above are to May 2019 which followed a normal demand pattern.

See latest Travel Industry News, Video Interviews, Podcasts and other news regarding: IATA, Cargo, Freight, Traffic.

Headlines: Minor Hotels Signs First NH Collection Hotel with a Beach Club  Bangkok Airways to Launch Double Daily Sealed Flights Between Bangkok and Phuket  Dara Hotels Group Appoints Weng Aow as Managing Director  WTTC Changes Date of Global Summit in Manila, Philippines  CWT Becomes a Launch Partner for Etihad's Corporate Conscious Choices  SWISS Takes Delivery of First A320neo with Airspace Cabin  Airbnb to Launch Travel Insurance Product  World Rugby Changes Dates of Canada and Los Angeles Sevens Events  350 Delegates Expected to Attend ASEAN Tourism Forum 2022 in Cambodia  BCD Publishes Report on Business Travel Trends for 2022  AirAsia Launches Xpress Parcel Delivery Service in Bangkok, Thailand  Marriott Signs First W Hotel in Greece  Priority Pass Expands App with CarTrawler Partnership  Swire Hotels Upgrades Digital Experience  BA to Launch Flights from LCY to Barcelona, Luxembourg, Milan and Thessaloniki  Boeing Expands Partnerships with German Industry  Travel Risk, COVID19 and Gopass Global - Interview with Mark Radford, CEO  AirAsia Malaysia Expands Domestic Network with New Routes  IHG Takes Over Management of 5-Star Resort in Bali, Indonesia  Singapore Airlines Extends and Expands PPS Club, KrisFlyer Benefits  IATA Reports Global Passenger Traffic for November 2021  Aernnova to Acquire Embraer Industrial Plants in Evora, Portugal  Finnair Cuts 20% of Flights in February  Munich Airport's Latest Statistics Highlight Pent Up Demand for Air Travel  Accor Opens 22nd Novotel Hotel in Thailand  Sabre Expands SafePoint Travel Risk Management Solution  Airlines in Asia Pacific Report Improvement in Passenger Demand  Growth in Global Air Cargo Markets Slows in November  Falko Regional Aircraft Signs eVTOL LOI with Eve  GKN Aerospace Selected as Partner on Gulfstream's New G400 and G800 Jets  Vincent McGrath Returns to UK as Hotel Manager of The Dorchester  World Rugby Appoints Charlotte Samuelson as Chief Operating Officer  Singapore Airlines and NUS Establish Digital Aviation Corporate Laboratory  Minor Hotels Expands Avani+ Brand to Koh Lanta, Thailand  AirAsia to Launch Remote Drone Pilot Training in Malaysia  Azorra Orders 20 A220-300s and 2 ACJ TwoTwenty Aircraft  Phuket Home to Banyan Tree's New Hotel Brand, Homm  Rosewood Opens First Hotel in South America  Marriott Signs W Hotel in Studio City, Macau  France Orders 10 H160s in a Law Enforcement Configuration  Ascott Secured 15,100 Units Across 72 Properties in 2021  FCM Launches Fee-Free Travel Management Programme in Singapore  Mandarin Oriental Shenzhen to Open 20 January  Hamad Int. Airport in Qatar Reports 41.37% Increase in Passengers in 2021  Qatar Airways Cargo Receives CEIV Live Animals Certification from IATA  Iraqi Airways Takes Delivery of First A220-300  Fabio Datteroni Appointed GM of Oetker Collection's First Italian Masterpiece Hotel  Gulf Air Receives Skytrax Five-Star COVID19 Airline Safety Rating  IHG Signs 4-Hotel, 2,709-Room Deal in Vietnam  Marriott Signs W Hotel in Nanjing, China  Greater Bay Airlines Signs Distribution Agreement with Amadeus  Allegiant Air Orders 50 Boeing 737 MAX Aircraft  Four Seasons Appoints Martin Cody as Senior GM of Two Hotels in Africa  IHG Signs Asia's First Vignette Collection Hotel  Comlux Takes Delivery of First ACJ TwoTwenty  Atlas Air Orders Four Boeing 777 Freighters  Air New Zealand Takes Delivery of ATR's 1,600th Aircraft  Emirates to Operate Double Daily Flights to Seychelles  French bee Takes Delivery of First Airbus A350-1000  Gilles Arzur Moves to Mauritius as Executive Chef of Four Seasons at Anahita  Ritz-Carlton Reopens Resort in Grand Cayman Following Major Renovation  QantasLink Launches Flights Between Melbourne and Burnie Airport in Tasmania  airasia ride Launches in Johor Bahru, Ipoh, Seremban and Melaka  Emirates Expands Partnership with Alhosn National Health System  Nok Air to Upgrade Operations with Technology from Radixx and Sabre  Emirates Takes Delivery of 123rd and Final New Airbus A380 Superjumbo  SIA Working with Retailers to Sell Products Made from Upcycled Parts of Retired Aircraft  New Zealand's MICE Options Expand as Te Pae Convention Centre Opens in Christchurch  BA Resumes Flights to Doha; Plans to Expand Partnership with Qatar Airways  SITA Upgrades Technology at Kuala Lumpur International Airport  ATR Receives EASA Approval to Extend Intervals of Type C Maintenance Checks  France's DGA Orders Two Additional Five-Bladed Airbus H145 Helicopters  Thai AirAsia to Launch VTL Flights Between Bangkok and Singapore  Singapore Airlines Signs LOI for 7 Airbus A350 Freighters  Qantas Unveils Plan to Order 40 Single-Aisle Airbus Aircraft  Sabre Appoints Kurt Ekert as President  Cathay Pacific Reports November 2021 Traffic  Qatar Executive Takes Delivery of Three More G650ER Aircraft  Pamela Fletcher to Join Delta as Chief Sustainability Officer  Qatar Airways Resumes Premium Inflight Dining Experience  Novotel Sunshine Coast Resort Completes Major Renovation  British Airways' Short-Haul Subsidiary at London Gatwick to Take Off in 2022  UK Removes All Countries from Red List  Thai Airways Launches VTL Flights Between Bangkok and Singapore  Bangkok Airways to Reopen Int. Passenger Lounges at Suvarnabhumi  Luca Virgilio Returns to London as GM of The Dorchester Hotel  Phuket Hotels Association Appoints Bjorn Courage as President  ACJ TwoTwenty Completes Maiden Flight  IHG Signs Crowne Plaza Hotel in Vinh Yen, Vietnam  Dorchester Collection Names First Hotel in Dubai  United Airlines Expands Partnership with Virgin Australia  Laminaar Aviation Signs MOU with Global Component Asia  Chunxia Gao Joins MSpa as Group Director - Asia  Dusit Partners with World Animal Protection  Pablo Molinari Joins Four Seasons New York Downtown as Hotel Manager  Airbus Expands Presence in Spain with Zero Emission Development Centre  All Nippon Helicopter Takes Delivery of First Airbus H160  HKIA Reports November Traffic; Launches Free Flight Delay Insurance  Qatar Airways Increases Flights to Popular Destinations  1,200 Swimmers Take Part in Hong Kong's New World Harbour Race  Marriott to Open 30 Luxury Hotels in 2022  Whitbread's First Premier Inn Hotel on Guernsey to Open in February  Air Canada's First Dedicated Freighter Enters Service  Travellers Can Now Upload My Vaccine Pass to Air New Zealand Airpoints Profile  IHG Opens 182-Room Holiday Inn Hotel in Queenstown, New Zealand  Cross Signs Two Hotels in Vietnam  Pan Pacific Revamps Discovery Loyalty Programme  The Dorchester Hotel in London to Remain Open During Major Renovation  Etihad Guest FFP Launches Conscious Choices  Zip Partners Sabre to Enable Buy Now Pay Later Options for Travel  IHG Signs Three Hotels with JJW  Brazil's Federal Police Takes Delivery of First of Two Embraer E175 Jets  Dusit Signs Mountain Resort in Hangzhou, China  Indonesia's Artotel Group Acquires Dafam Hotel Management  777 Partners Orders 30 More Boeing 737 MAX Aircraft  Air Astana Takes Delivery of 7th Airbus A321LR  First Students Begin Flight Training at United Aviate Academy in Phoenix  Cathay Pacific Signs Expanded Distribution Agreement with Travelport  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS News Feed and Ticker  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Receive our Latest Travel News Daily Email free of charge by entering your email address and name in the boxes to the right and clicking subscribe. By subscribing, you agree with Revue's Terms of Service and Privacy Policy. You can also receive the news by WhatsApp, stay updated with our RSS Feed Travel Industry News by TravelNewsAsia.com, and even Add the Headlines to Your Website free of charge. Have questions? Please read our travel news FAQ.

     
Advertising
Advertising
Copyright © 1997-2022 TravelNewsAsia.com