Air cargo demand falls back below pre-Covid levels in March
With a strong presence in the global airfreight market, and an array of expedited import and export services through our subsidiary Davies Turner Air Cargo, we were disappointed to read that air cargo demand slipped back below pre-Covid levels in March after a volatile first quarter, according to the latest market data from IATA.
Figures from the airline association show that air cargo demand in cargo tonne kms (CTK) terms declined 7.7% year on year in March. Although that is still an improvement on the percentage declines registered for most of last year, IATA said that demand had slipped back into negative territory compared with pre-Covid levels after having shown an improvement in February.
At this point, we are unclear if these figures is a potentially modest start of an improvement trend or the upside of market volatility.
IATA director general Willie Walsh said: “Air cargo had a volatile first quarter. In March, overall demand slipped back below pre-Covid-19 levels and most of the indicators for the fundamental drivers of air cargo demand are weak or weakening.
“While the trading environment is tough, there is some good news. Airlines are getting help in managing through the volatility with yields that have remained high and fuel prices that have moderated from exceptionally high levels.
“Looking ahead, with inflation reducing in G7 countries policymakers are expected to ease economic cooling measures and that would stimulate demand.”
In the IATA/CASS league table for 2020, Davies Turner Air Cargo was the UK’s highest placed independent freight forwarder, measured by CASS airline tonnage. As such, you can be assured that our experienced staff are always on hand to provide support as you negotiate the tricky air cargo market.
For more information about the Davies Turner group’s global air freight forwarding and logistics services, please contact aircargo@daviesturner.co.uk or visit https://www.daviesturner.com/air-freight
Air cargo demand falls back below pre-Covid levels in March
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