The International Air Transport Association data for global air freight markets released yesterday, showed that capacity remains unable to meet demand as a result of the loss of belly cargo operations on passenger aircraft that have been parked.
Belly capacity for international air cargo shrank by 66.4 per cent in May compared to the previous year due to the withdrawal of passenger services amid the COVID-19 crisis . This was partially offset by a 25.2 per cent increase in capacity through expanded use of freighter aircraft. IATA’s Director General and CEO, Alexandre de Juniac, said air cargo demand was down by over 20 per cent compared to 2019.
African airlines posted the smallest contraction of any region in May, extending a run of resilient performance. Africa has now ranked in the top two regions for 15 consecutive months. Year-on-year international demand fell by 6.3 per cent. The small Africa-Asia market was particularly resilient in May, down only 0.4 per cent. International capacity decreased 37.7 per cent.
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