Shipments are increasing as the global economy gradually reawakens from a coronavirus-induced slumber and that is translating into slightly better air cargo demand, new data shows.
The International Air Transport Association (IATA) reported air cargo volume fell 20.3% in May from 2019, but that was better than April’s year-over-year decline of 25.6%. International demand, measured by the amount of cargo tons times distance carried, dropped 21.5% in May.
The trade group’s figures show better market conditions for airlines than those from market research firm World ACD, which recently said airfreight volume sank 29% below last year’s level but improved 11% from April. It uses the dimensional weight of shipments, a different metric than IATA.
IATA also announced Wednesday that May passenger demand ticked up from April – with a drop of 91.3% compared to May 2019. Passenger traffic was down 94% in April year-over-year. International air travel in May nearly came to a standstill, with 98% less passenger traffic than the prior year. U.S. domestic traffic was down 89.5% in May, an improvement over the 95.6% decline experienced in April.
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Source: American Shipper