The International Air Transport Association (IATA) has released figures for the air cargo industry for the month of July with demand in cargo ton kilometre (CTK) terms increasing by 8.6% compared with the same month in 2019 (pre-COVID levels.) Capacity in available CTK in July was down 10.3% compared to the same period in 2019. With demand outpacing capacity, the cargo load factor reached 54.4% – a 9.5% increase compared to July 2019. IATA director general
Willie Walsh adopted a cautious approach to the results for July owing to a recent uptick in COVID numbers as the Delta variant of the virus continues to see continued lockdowns. “July was another solid month for global air cargo demand. Economic conditions indicate that the strong growth trend will continue into the peak year-end demand period,” he commented, adding that: “The Delta variant of COVID-19 could bring some risks. If supply chains and production lines are disrupted, there is potential for a knock-on effect for air cargo shipments.” The pace of growth slowed in July in comparison to the 9.2% demand increase registered in June, but IATA were keen to point out that: “economic conditions continue to support air cargo growth”, also pointing out that the July export orders component of the manufacturing Purchasing Managers Indices (PMIs) was 52.7%, suggesting a short-term boost to demand if those orders are shipped by air. “Despite the near-term challenges, the upshot is that standard drivers of air cargo – notably those that contribute to the overall performance of air compared to other modes – remain supportive,” IATA said. Other than Latin America, all regions registered an increase in demand. European carriers saw cargo traffic for the month increase by 6.1%, North American carriers saw demand in July increase by 21.2%, Airlines based in the Middle East saw demand increase by 11.3%, and Latin America-based carriers saw their cargo traffic for the month fall by 9.8%, all compared to the same period in 2019.
