IATA data shows July air cargo demand stable, lower than 2019 levels

Global air freight markets data released by the International Air Transport Association (IATA) has revealed stable air cargo demand in July.

According to the data, global demand is at lower levels when compared with last year and there is certain month-to-month improvement.

In July, global demand measured in cargo tonne-kilometres (CTKs) dropped by 13.5% compared with last year.

However, there is a slight improvement from the 16.6% year-on-year drop recorded in June.

The data also reveals that global capacity measured in available ACTKs fell by 31.2% during the month.

With capacity remaining constrained, month-to-month improvement is happening at a slower pace, noted IATA.

Additionally, aircraft belly capacity for international cargo dropped by 70.5% in July compared with last year.

IATA director general and CEO Alexandre de Juniac said: “Economic indicators are improving, but we have not yet seen that fully reflected in growing air cargo shipments.

“That said, air cargo is much stronger than the passenger side of the business. And one of our biggest challenges remains accommodating demand with severely reduced capacity.

“If borders remain closed, travel curtailed and passenger fleets grounded, the ability of air cargo to keep the global economy moving will be challenged.”

In June, the IATA estimated that the airlines could lose $84.3bn this year as the coronavirus (Covid-19) continues to affect operations.