Source: IATA
Cargo volumes plunge but lack of capacity boosts loads and yields
- Industry-wide air cargo tonne-kilometres (CTKs) fell by 15.3% year-on-year in the three months to April 2020. In seasonally adjusted terms, CTKs fell by 16.9% quarter-on-quarter. All of the regions and main trade lanes registered large declines.
- COVID-19 had a widespread impact on the key drivers of air freight demand. Business and consumer confidence weakened in January-April, but have begun to show more positive signs recently. Offset by very weak new export orders and industrial production, the growth in pharmaceutical volumes flown by air has provided only limited support to airlines.
- Any residual demand for air transport has faced a lack of cargo capacity due the grounding of most of the world's passenger aircraft. Consequently, cargo load factors and yields have both risen to record-high levels in recent months. … read more