THE International air Transport Association (IATA) has reported that outlook remains positive, with global air cargo demand being up 7.7 per cent in August than 2017, reports London's Air Cargo News
Global air cargo capacity in August was 12.2 per cent lower than pre-Covid levels.
Industry-wide cargo load factor in August reached 54.2 per cent, ten percentage points higher than August 2019.
'For now, the outlook for air cargo business remains positive, but growth in some of the key demand drivers has slowed recently and pandemic-related constraints have increased pressure on available cargo capacity,' said IATA.
'The inventory-to-sales ratio remains low ahead of the peak year-end retail season. This is positive for air cargo, however further capacity constraints put this at risk,' said IATA.
'The August manufacturing output component of the Purchasing Managers Indices (PMIs) was 51.9, indicating a short-term boost to demand if those orders are shipped by air,' said IATA.
'The August new export orders component of the PMIs was favorable for air cargo, despite being less supportive than in the previous months. Expansion continued at the global level, however, there was contraction in emerging economies.' said IATA.
Said IATA director general Willie Walsh: 'Air cargo demand had another strong month in August, up 7.7 per cent compared with pre-Covid levels.
'Many of the economic indicators point to a strong year-end peak season. With international travel still severely depressed, there are fewer passenger planes offering belly capacity for cargo. And supply chain bottlenecks could intensify as businesses continue to ramp up production.' said Mr Walsh.
Africa-based airlines recorded volumes 32.4 per cent higher than August 2019, while capacity in the region was 3.8 per cent lower.
Cargo demand for North America-based airlines was 13.3 per cent higher than August 2019, while capacity was also up 0.7 per cent.
Europe-based airlines posted volumes 6.3 per cent higher than in August 2019, while capacity was 12.1 per cent lower.
Carriers based in the Middle East achieved volumes that were 15.5 per cent higher than in August 2019, with capacity in the region down 5.2 per cent.
Air cargo demand for Asia Pacific-based airlines was 2.1 per cent higher than in August 2019, while capacity was 28.1 per cent lower.
Latin America-based carriers recorded cargo volumes in August 2021 that were 13.2 per cent lower August 2019m with capacity in the region being down 20 per cent.
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Global air cargo capacity in August was 12.2 per cent lower than pre-Covid levels.
Industry-wide cargo load factor in August reached 54.2 per cent, ten percentage points higher than August 2019.
'For now, the outlook for air cargo business remains positive, but growth in some of the key demand drivers has slowed recently and pandemic-related constraints have increased pressure on available cargo capacity,' said IATA.
'The inventory-to-sales ratio remains low ahead of the peak year-end retail season. This is positive for air cargo, however further capacity constraints put this at risk,' said IATA.
'The August manufacturing output component of the Purchasing Managers Indices (PMIs) was 51.9, indicating a short-term boost to demand if those orders are shipped by air,' said IATA.
'The August new export orders component of the PMIs was favorable for air cargo, despite being less supportive than in the previous months. Expansion continued at the global level, however, there was contraction in emerging economies.' said IATA.
Said IATA director general Willie Walsh: 'Air cargo demand had another strong month in August, up 7.7 per cent compared with pre-Covid levels.
'Many of the economic indicators point to a strong year-end peak season. With international travel still severely depressed, there are fewer passenger planes offering belly capacity for cargo. And supply chain bottlenecks could intensify as businesses continue to ramp up production.' said Mr Walsh.
Africa-based airlines recorded volumes 32.4 per cent higher than August 2019, while capacity in the region was 3.8 per cent lower.
Cargo demand for North America-based airlines was 13.3 per cent higher than August 2019, while capacity was also up 0.7 per cent.
Europe-based airlines posted volumes 6.3 per cent higher than in August 2019, while capacity was 12.1 per cent lower.
Carriers based in the Middle East achieved volumes that were 15.5 per cent higher than in August 2019, with capacity in the region down 5.2 per cent.
Air cargo demand for Asia Pacific-based airlines was 2.1 per cent higher than in August 2019, while capacity was 28.1 per cent lower.
Latin America-based carriers recorded cargo volumes in August 2021 that were 13.2 per cent lower August 2019m with capacity in the region being down 20 per cent.
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