Latest air cargo results for May, just released by the International Air Transport Association (Iata), reveal the sector’s continued strong growth trend.
Global demand, measured in cargo tonne-kilometres (CTKs), was up 9.4% compared to May last year. Seasonally adjusted demand rose 0.4% month-on-month in May, the 13th consecutive month of improvement.
The pace of growth slowed slightly compared to April, which saw demand increase 11.3% against pre-Covid-19 levels. Notwithstanding, air cargo outperformed global goods trade for the fifth consecutive month.
“Propelled by strong economic growth in trade and manufacturing, demand for air cargo is 9.4% above pre-crisis levels. As economies unlock, we can expect a shift in consumption from goods to services. This could slow growth for cargo in general, but improved competitiveness compared to sea shipping should continue to make air cargo a bright spot for airlines while passenger demand struggles with continued border closures and travel restrictions,” said Willie Walsh, Iata’s director general.
African airlines’ cargo demand increased 24.5% compared to the same month in 2019. This was a decrease in performance compared to the previous month (34.0%) due to a slowdown in trade flows between Africa and Asia.
