Strong air cargo demand aids aviation sector recovery
The International Air Transport Association (IATA) has released data for global air cargo markets showing that demand continued its strong growth trend.
Global demand, measured in cargo tonne-kilometers (CTKs), was up 8.6% compared to July 2019.
Overall growth remained strong compared to the long-term average growth trend of around 4.7%.
The pace of growth slowed slightly compared to June which saw demand increase 9.2%, against pre-COVID-19 levels.
Capacity has continued to recover, but it was still 10.3% down compared to July 2019.
Economic conditions continued to support air cargo growth. The July export orders component of the manufacturing Purchasing Managers Indices (PMIs) was 52.7%, indicating a short-term boost to demand if those orders were shipped by air.
The inventory-to-sales ratio remained low ahead of the peak year-end retail season.
“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. 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,” said Wille Walsh, IATA’s director general.
Global demand, measured in cargo tonne-kilometers (CTKs), was up 8.6% compared to July 2019.
Overall growth remained strong compared to the long-term average growth trend of around 4.7%.
The pace of growth slowed slightly compared to June which saw demand increase 9.2%, against pre-COVID-19 levels.
Capacity has continued to recover, but it was still 10.3% down compared to July 2019.
Economic conditions continued to support air cargo growth. The July export orders component of the manufacturing Purchasing Managers Indices (PMIs) was 52.7%, indicating a short-term boost to demand if those orders were shipped by air.
The inventory-to-sales ratio remained low ahead of the peak year-end retail season.
“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. 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,” said Wille Walsh, IATA’s director general.
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