Tiaca: global air cargo keeps on improving
Heavily hit at the beginning of the coronavirus crisis, the global air cargo industry is continuing its gradual route to recovery to pre-Covid market conditions for a fourth-consecutive month. This is the outcome of two "Economics4Cargo" webinars Tiaca held last week.
Year-on-year growth for August showed a further narrowing of the gap in international volumes to -17% versus August 2019. This compares to a -41% YOY disparity in April, since when month-on-month demand has improved.
The receding gap in the YOY decline between capacity and demand resulted in a global dynamic loadfactor drop from 70% in July to 68%, which is "still exceptionally high" for this traditional "slack season", as Clive Data Services remarks – registering at 8% points higher than the corresponding performance in August 2019. (ah)