Air cargo demand Improves in November while capacity remains constrained
The International Air Transport Association (IATA) released data for global air freight markets in November showing that freight volumes improved compared to October, but remain depressed compared to 2019. Capacity remains constrained from the loss of available belly cargo space as passenger aircraft remain parked.
Global demand, measured in cargo tonne-kilometers (CTKs*), was 6.6% below previous-year levels in November (-7.7% for international operations). This was on par with the 6.2 % year-on-year drop in October. The year-on-year decline is skewed as November 2019 had a boost in demand from the waning US-China trade war.
Seasonally adjusted demand (SA CTKs) continued to improve, increasing 1.6% month-on-month in November. This was a slight improvement over the monthly growth rate of 1.1% in October. Current month-on-month gains indicate that SA CTKs will return to 2019 levels around March or April 2021.
Global capacity, measured in available cargo tonne-kilometers (ACTKs), shrank by 20% in November (‑21.3% for international operations) compared to the previous year. That is nearly three times larger than the contraction in demand. The capacity crunch is caused by a 53% decrease in in belly capacity. This has only been partially offset by a 20% increase in freighter capacity.
Strong regional variations continue with North American carriers reporting year-on-year gains in demand (+5%), while all other regions remained in negative territory compared to a year earlier.
Economic conditions in November, normally the peak season for air cargo, remained positive:
The new export orders component of the manufacturing Purchasing Managers’ Index (PMI) remained in growth territory in both developed and emerging markets for the third month in a row after two years of indicating negative growth.
Retail sales for November were up by around 5% over 2019 for both China and the US, propelled by events like Black Friday and Singles Day.
“Air cargo demand is still down 6.6% compared to the previous year, however, we are seeing continuing month-on-month improvements. Severe capacity constraints persist as large parts of the passenger fleet remain grounded. This will put pressure on the industry as it gears up to deliver vital COVID-19 vaccines,” said Alexandre de Juniac, IATA's Director General and CEO.
NOVEMBER 2020 (% YEAR-ON-YEAR) | WORLDSHARE1 | CTK | ACTK | CLF(%-PT)2 | CLF(LEVEL)3 |
---|---|---|---|---|---|
Total Market
|
100%
|
-6.6%
|
-20.0%
|
8.4%
|
58.2%
|
Africa
|
1.8%
|
-2.6%
|
-20.7%
|
9.2%
|
49.6%
|
Asia Pacific
|
34.5%
|
-10.6%
|
-22.7%
|
8.5%
|
63.1%
|
Europe
|
23.6%
|
-13.4%
|
-24.9%
|
8.7%
|
65.5%
|
Latin America
|
2.8%
|
-19.2%
|
-28.4%
|
5.0%
|
43.6%
|
Middle East
|
13.0%
|
-2.3%
|
-18.7%
|
10.1%
|
60.0%
|
North America
|
24.3%
|
5.0%
|
-12.8%
|
8.5%
|
50.0%
|
1 % of industry CTKs in 2019 2 Year-on-year change in load factor 3 Load factor level
November’s Regional Performance
Asia-Pacific airlines reported a decline in year-on-year international demand of 9.5% in November 2020 compared to the same month a year earlier. This was a 2.2% improvement from the 11.7% fall in October 2020. While international traffic within the region remains weak (down 19.6% year-on-year in November), exports on the Asia-North America and Asia-Europe routes are strong, driven by demand for e-commerce and PPE. International capacity remained constrained in the region, down 25.3%. However, this was an improvement over the 28.5% fall the previous month.
North American carriers posted a 1% increase in international demand in November compared to the previous year—just the third month of growth in 12 months. This stronger performance compared to the rest of the industry was driven by a less stringent capacity crunch compared to other regions, with international capacity only down 12.7% in November. Strong traffic on the Asia-North America routes also contributed to the performance, reflecting rising e-commerce demand for products manufactured in Asia.
European carriers reported a decrease in international demand of 13.7% in November compared to the previous year. This was a 2.7% decline in performance compared to October 2020. Air cargo in the region has been significantly affected by the resurgence of the COVID-19 virus and the impact of lockdowns on consumer demand and business activity. Lack of capacity remains a challenge, as international capacity decreased 24.9% in November.
Middle Eastern carriers reported a decline of 2.2% in year-on-year international cargo volumes in November, a 1.1% deterioration from October. The lack of international connectivity is hampering air cargo recovery in the region, however, seasonally adjusted demand remains on an upward trend. International capacity decreased by 18.6%.
Latin American carriers reported a decline of 19.4% in international cargo volumes in November compared to the previous year. This was a drop from the 12.2% fall in October 2020. Air cargo in the region has been significantly affected by the resurgence of the COVID-19 virus and the impact of lockdowns on consumer demand and business activity. International capacity decreased 24.8% in November, an improvement from the 28.9% fall in October.
African airlines saw international demand fall by 1.7% year-on-year in November, after three months of positive year-on-year growth. This is primarily driven by a soft performance on the Asia-Africa route, which was down 4.5% year-on-year. International capacity decreased by 19.4%.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Dtom
- 1) Direct flight from Shanghai to Athens offers access to key tourism market for Greece
- 2) US Ambassador to Athens: More flights from the United States to Greece and Thessaloniki
- 3) Chairman: 2023 was an exceptional one for AEGEAN Airlines
- 4) Flights to and from Heraklion airport in Crete resume on Saturday
19/04 01:29
Athens State Orchestra presents 'St. Matthew's Passion' by Bach on April 30th
18/04 21:49
Greek Climate Change Minister signs memorandum for Attica fire protection zones
18/04 20:32
'Easter Basket' and 'Godparents basket' to be put into effect next week in Greece
18/04 20:17
18/04 17:40
17/04 21:06
Thessaloniki Port: Performance growth for 2023 with record container throughput
17/04 20:57
Traffic regulations imposed in Athens for the 41st Peace Marathon on Sunday
17/04 20:52
17/04 18:15
Greek Foreign Minister addresses the 9th Our Ocean Conference in Athens
17/04 17:12
16/04 21:02
NHM hosts the Trial of Pericles at the Harris Theater in Chicago on April 17
16/04 20:17
Greece will invest $830 million to protect marine biodiversity
16/04 01:46
New York Greek Independence Parade honors 1821 and solemn Cyprus Anniversary
16/04 01:35
Olympic Games Paris 2024: Olympic Flame to be lit at Ancient Olympia in Greece
16/04 00:29
European Committee of Regions and UN release study on Rural Tourism
15/04 20:41
15/04 19:58
Minister: Greece is transforming into a hub for exporting quality agri-food products
15/04 18:51
Greek Environment Minister meets Chinese Deputy Minister of Natural Resources
13/04 00:13
UN Tourism and Croatia to launch Research Centre for Sustainable Tourism
12/04 00:03
2024 marks a critical year in the enduring strength of Greek-German relations
12/04 00:00
11/04 22:07
Ambassador: US committed to upgrade of Greek military and support NATO's SE flank
11/04 19:40
Hellenic Pride on display at rainy Chicago Greek Independence Day Parade
11/04 02:06
Delphi Economic Forum IX: Energy collaboration a 'key' in Greek-Bulgarian relations
11/04 01:58
UN Tourism launches investment guidelines for Albania sector
10/04 19:01
Greek FinMin: New package of economic measures in 2025 to lower taxes, raise pensions
10/04 18:25
Greek city of Nafplion hosts Mediterranean Yacht Show for ninth year running
09/04 23:57
Greek PM on Tilos: Innovative projects for a cyclical economy are of key significance
09/04 23:55
UN Tourism members promote agenda for Europe as region leads global recovery
09/04 23:46
HFS presents 1968, Rousing Docudrama about Greece’s First European Cup April 21
09/04 22:48
Stolen 7th-century BC oenochoe returned to Greece by Hanover museum, municipality
09/04 22:42
Greek civil servants confederation ADEDY to strike on May 21
09/04 21:55
Greek Migration Minister meets Senior US Coordinator for Lawful Migration
08/04 23:48
08/04 23:41
Elliniko-Argyroupoli Mayor marches in Greek Independence Philadelphia Parade
08/04 21:53
Project Voria casino complex in Maroussi moving ahead after environmental report
08/04 21:36
Minister: Up to 120 delegations to take part in 9th Our Ocean Conference in Athens
08/04 19:22
Direct flight from Shanghai to Athens offers access to key tourism market for Greece
08/04 18:31
AI conference to attract distinguished speakers to Thessaloniki on April 25-27
04/04 23:28
City of San Jose marks March 25 with 16th Annual Greek Flag Raising Event
04/04 22:16
Urban plans published for seven townships in Thessaloniki and Attica of Greece
04/04 17:24
FinMin: The new EU economic and fiscal framework is good for Greece
04/04 15:30
Greek PM meets with the chiefs of the international pharmaceutical manufacturers
04/04 00:15
Deputy Minister for Macedonia-Thrace meets US Embassy Deputy Mission Chief
03/04 20:12
Syracuse AHEPA Chapter 37 marks March 25th Greek Independence Day
03/04 18:10
Greece's Delphi Economic Forum on April 10-13 to focus on 'The Great Transition'
03/04 16:42
Minister: Industrial production has returned to the pre-crisis levels in Greece
02/04 18:06
30/03 23:21
Eleni Gatzoyiannis scholarship offered to Greek students at Boston University
29/03 16:44
3rd edition of 'This is Athens - City Festival' with 250+ events from May 1 until June 2
29/03 15:53
Athens Metro station Aghia Varvara to stay closed on Saturday and Sunday
29/03 13:55
Greek Foreign Minister for Economic Diplomacy concludes visit to Montenegro
29/03 12:00
29/03 11:51
28/03 18:41
Attica Region to channel 640 bln euros to services of vulnerable and disadvantaged groups
28/03 17:32
Greece to auction three-month T-bills on April 3, 2024 in a book entry form
28/03 15:46
Greece's Meteora Pyli Geopark added to UNESCO Global Geoparks network
28/03 14:44
IPTO announces framework agreement tender for undersea power cables in Greece
28/03 11:49
IOBE: Construction sector in Greece records robust growth and good prospects
26/03 23:51
St. Thomas Hellenic School honors 1821 and the Feast of the Annunciation in NJ
26/03 21:59
PM at Economic Club of Canada: Greece is an attractive investment destination
26/03 17:56
Greek State budget primary balance reaches a surplus of 3,378 million euros
26/03 11:45
Ancient Messene to get upgraded visitors' facilities after approval by Council
23/03 17:43
New requirements for 'Golden Visa' program to kick in on March 31
23/03 16:49
Athenians continue to head out of the Greek Capital for March 25 long weekend
23/03 16:47
Greek Parliament lights to be turned off for Earth Hour 8:30-9:30 pm
22/03 21:54
US President on Greek Independence Day: Alliance with Greece stronger than ever
22/03 19:51
High diplomacy and geopolitics at Delphi Economic Forum IX in Greece
22/03 19:32
Tax authorities enable payments with foreign bank cards in Greece
22/03 14:19
22/03 00:24
Greece ranks first on list of countries with fastest business environment progress
22/03 00:02
Hellenic Police acquires first electric VAN-type highway patrol vehicle
21/03 22:41
21/03 15:33
Unseen Museum presents "The stele of the twin babies" exhibition in Athens
20/03 22:48
Health Minister: 95% of Greek hospitals to perform afternoon surgeries
20/03 21:52
Greek Deputy Minister of Justice meets delegation from US Embassy in Athens
20/03 21:44
Greek Interior Minister to visit United States and Canada on postal vote
20/03 20:55
Philadelphia Icarians mark 85th Anniversary and organize Apokriatiko Dance
20/03 18:01
Development Minister: We continue the battle against high prices in Greece
19/03 22:28
President of the Hellenic Republic meets her Ethiopian counterpart in Athens
19/03 20:57
19/03 20:25
FinMIn: Moody’s analysis records significant progress in the Greek economy
19/03 11:15
Sector chiefs report: Good news for Greek tourism in 2024 at ITB Berlin
18/03 22:20
American Hellenic Educational Progressive Association honors Past Supreme President
16/03 13:01
Greek Deputy Foreign Μinister meets her Slovenian counterpart in Athens
16/03 12:56
Greek-Canadian Diaspora to welcome Greek Prime Minister to Toronto
16/03 11:28
Greek Migration Minister visits refugee hosting facilities in Kavala, Drama and Serres
15/03 21:50
Greek Minister announces conference on defence ecosystem in Athens from Lithuania
15/03 13:45
PM: More than 80 hospitals and 156 health centres being upgraded in Greece
15/03 12:55
Piraeus Port and Genoa Chambers of Commerce ink memorandum of cooperation
14/03 23:43
President of Hellenic Republic meets Prime Minister of Slovakia in Bratislava
14/03 22:58
American Express report highlights Global Travel Trends during 2024
14/03 22:52
Four hospitals in Attica Region already organizing afternoon surgical procedures
14/03 22:49
US Ambassador to Athens: More flights from the United States to Greece and Thessaloniki
14/03 22:43
Greek archaeologists discover ten ancient shipwrecks off Aegean island of Kasos
14/03 19:32
No new intubations for Covid-19 recorded in Greece for the first time
14/03 18:36
Extra road safety measures adopted for Greek pre-lent carnival and Clean Monday
14/03 14:48
14/03 12:54
Electric buses to be deployed on the streets of Athens and Thessaloniki by May
13/03 22:23
Traffic regulations imposed in Athens for the 41st Peace Marathon on Sunday
Greek Foreign Minister addresses the 9th Our Ocean Conference in Athens
'Easter Basket' and 'Godparents basket' to be put into effect next week in Greece
Greek Climate Change Minister signs memorandum for Attica fire protection zones
Athens State Orchestra presents 'St. Matthew's Passion' by Bach on April 30th
Thessaloniki Port: Performance growth for 2023 with record container throughput
The Economist magazine names recovering Greece Best 2022 Performer
Trapped rack-railway passengers returned safely to Diakopto in Peloponnese
IPTO report: Rapid implementation of Crete-Attica electricity interconnection
Olympic Games Paris 2024: Olympic Flame to be lit at Ancient Olympia in Greece
Greek Environment Minister meets Chinese Deputy Minister of Natural Resources
Extra road safety measures adopted for Greek pre-lent carnival and Clean Monday
European Commission: Greece assumes command of Red Sea maritime operation
Bill for non-state, non-profit universities being tabled in Greek Parliament on Thursday
TUI chief forecast: Tourism sector in Greece to break all records during 2024
Amendment tabled introducing postal vote for Diaspora Greeks in national elections
Saint Katherine HEC Paideia Preschool to organize Open House on February 7
Greek Minister of Culture: Revenues from visitors to the Athens Acropolis rise in 2023
Flights to and from Heraklion airport in Crete resume on Saturday
Greece and Germany set up Working Group on shipping cooperation