While air cargo volumes diminished rapidly in March, new data for April offers some hope that the decline may be ‘bottoming out’ in parallel with a possible stabilisation of the global economy.
According to the latest industry intelligence from CLIVE Data Services, in April air freight volumes declined 39%, year-on-year. The data specialist added that “an even greater capacity drop of 45% highlighted the current shortage of air cargo capacity”.
However, optimism could be found in its week-by-week data which revealed that air cargo volumes stabilised from mid-March to mid-April and became “less bad” during the two weeks to 3 May.
According to figures from CLIVE, global air cargo volumes were down, year-on-year, by 47% in the two weeks to 5 April, and 48% in the week to 12 April, before beginning to recover to a 43% deficit the following week and a deficit of 32% in the two weeks to 3 May.
That recovery of volumes broadly mirrored the pattern of capacity, which sank to a low of more than 50% below its 2019 level in the week to 5 April, according to figures from CLIVE, before gradually recovering.CLIVE, which consolidates data shared by a representative group of international airlines, estimates that global air cargo capacity remained down, year-on-year, by as much as 40% in the week to 3 May.
Source, Lloyd's List, 22 May
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