Air cargo volumes to reach 2019 levels by March or April: IATA

Global air cargo volumes sank more than 6% year on year in November but remain on track to return to 2019 levels by March or April, according to IATA. The trade group’s most recent air cargo report also notes that air cargo revenue remains “exceptionally elevated” due partly to overall reduced cargo capacity. Notably, passenger traffic – and consequently belly-hold capacity – remains down: IATA data shows a 70% year-on-year fall in November. The raw numbers reveal that air cargo volumes, measured in cargo tonne kilometres (CTK), declined 6.6% in November from the same period last year. That decline largely reflects November 2020’s comparison with what was a particularly strong month in 2019, says the report, released on 7 January. However, cargo volume actually increased 1.6% in November when adjusted for seasonal variables such as holidays. “While the pace of the recovery has weakened, current month-on-month gains point to [seasonally adjusted] CTKs returning to 2019 monthly levels around March or April 2021,” IATA says. The report cites rebounding global export orders, record e-commerce shipments and stronger year-on-year retail sales in the USA and China.<br/>