Air, Freight News

Airfreight growth stays sluggish, says IATA

[ September 29, 2020   //   ]

Improvement in the global freight market remains slow amid insufficient capacity, said the International Air Transport Association (IATA) in its report for August. While demand moved slightly in a positive direction month-on-month; business remain depressed compared to 2019 due to the capacity constraint from the loss of belly cargo space as passenger aircraft remain parked.  Global demand was 12.6% below August 2019, which was a modest improvement from the 14.4% year-on-year drop recorded in July. Seasonally-adjusted demand grew by 1.1% month-on-month in August.  Belly capacity for international air cargo was 67% below the levels of August 2019, only partially offset by a 28.1% increase in dedicated freighter capacity. Daily widebody freighter utilization is close to 11 hours per day, the highest levels since these figures have been tracked in 2012.