The International Air Transport Association (IATA) released March 2021 data for global air cargo markets showing that air cargo demand continued to outperform pre-COVID levels (March 2019) with demand up 4.4%. March demand reached the highest level recorded since the series began in 1990. Month-on-month demand also increased, albeit at a slower pace than the previous month with volumes up 0.4% in March over February 2021 levels. Â Â
Global demand, measured in cargo ton-kilometers (CTKs), was up 4.4% compared to March 2019 and 0.4% compared to February 2021. This was a slower rate of growth than the previous month, which saw demand increase 9.2% compared to February 2019. A weaker performance by Asia-Pacific and African carriers compared to February contributed to softer growth in March.
Global capacity, measured in available cargo ton-kilometers (ACTKs), continued to recover in March, up 5.6% compared to the previous month. Despite this, capacity remains 11.7% below pre-COVID-19 levels (March 2019) due to the ongoing grounding of passenger aircraft. Airlines continue to use dedicated freighters to plug the lack of available belly capacity. International capacity from dedicated freighters rose 20.6% in March 2021 compared to the same month in 2019, and belly-cargo capacity dropped by 38.4%.
Asia-Pacific airlines saw demand for international air cargo drop 0.3% in March 2021 compared to the same month in 2019.
North American carriers posted a 14.5% increase in international demand in March compared to March 2019.
European carriers posted a 0.7% increase in demand in March compared to the same month in 2019.
Middle Eastern carriers posted a 9.2% rise in international cargo volumes in March 2021 versus March 2019.
Latin American carriers reported a decline of 23.6% in international cargo volumes in March compared to the 2019 period; this was the worst performance of all regions.
African airlines’ cargo demand in March increased 24.6% compared to the same month in 2019, the strongest of all regions.
