Global air cargo demand reaches all time high in March
The International Air Transport Association (IATA) released March 2021 data for global air cargo markets showing that air cargo demand continued to outperform pre-COVID levels (March 2019) with demand up 4.4%. March demand reached the highest level recorded since the series began in 1990. Month-on-month demand also increased albeit at a slower pace than the previous month with volumes up 0.4% in March over February 2021 levels.
Because comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted all comparisons to follow are to March 2019 which followed a normal demand pattern.
Global demand, measured in cargo tonne-kilometers (CTKs*), was up 4.4% compared to March 2019 and 0.4% compared to February 2021. This was a slower rate of growth than the previous month, which saw demand increase 9.2% compared to February 2019. A weaker performance by Asia-Pacific and African carriers compared to February contributed to softer growth in March.
Global capacity, measured in available cargo tonne-kilometers (ACTKs), continued to recover in March, up 5.6% compared to the previous month. Despite this, capacity remains 11.7% below pre-COVID-19 levels (March 2019) due to the ongoing grounding of passenger aircraft. Airlines continue to use dedicated freighters to plug the lack of available belly capacity. International capacity from dedicated freighters rose 20.6% in March 2021 compared to the same month in 2019 and belly-cargo capacity dropped by 38.4%
Underlying economic conditions remain supportive for air cargo:
This is evidenced in the new export orders component of the manufacturing Purchasing Managers’ Index (PMI) which stood at 53.4 in March. Results above 50 indicate manufacturing growth versus the prior month.
Demand for exports grew broadly in March. This was concentrated in developed countries during January and February.
Delivery times for manufactured goods are increasing which normally indicates increased demand for air cargo in efforts to recover time.
Global trade rose 0.3% in February – the ninth consecutive monthly increase and the longest continuous growth in more than two decades.
“Air cargo continues to be the bright spot for aviation. Demand reached an all-time high in March, up 4.4% compared to pre-COVID levels (March 2019). And airlines are taking all measures to find the needed capacity. The crisis has shown that air cargo can meet fundamental challenges by adopting innovations quickly. That is how it is meeting growing demand even as much of the passenger fleet remains grounded. The sector needs to retain this momentum post-crisis to drive the sector’s long-term efficiency with digitalization,” said Willie Walsh, IATA’s Director-General.
March Regional Performance
Asia-Pacific airlines saw demand for international air cargo drop 0.3% in March 2021 compared to the same month in 2019. The slight weakness in performance compared to the previous month was seen on most of the trade lanes connected with Asia. International capacity remained constrained in the region, down 20.7% versus March 2019. The region’s airlines reported the highest international load factor at 78.4%.
MARCH 2021 % VS MARCH 2019 |
WORLDSHARE1 | CTK | ACTK | CLF(%-PT)2 | CLF(LEVEL)3 |
---|---|---|---|---|---|
Total Market
|
100%
|
9.0%
|
-14.9%
|
12.6%
|
57.5%
|
Africa
|
2.0%
|
23.1%
|
-4.6%
|
11.2%
|
49.9%
|
Asia Pacific
|
32.4%
|
-2.9%
|
-18.6%
|
10.7%
|
66.1%
|
Europe
|
22.3%
|
0.9%
|
-17.1%
|
12.2%
|
68.5%
|
Latin America
|
2.4%
|
-21.4%
|
-39.9%
|
10.6%
|
45.3%
|
Middle East
|
12.9%
|
9.1%
|
-12.5%
|
12.1%
|
61.3%
|
North America
|
27.9%
|
17.5%
|
3.8%
|
5.5%
|
47.2%
|
(1) % of industry CTKs in 2020 (2) Change in load factor vs same month in 2019 (3) Load factor level
North American carriers posted a 14.5% increase in international demand in March compared to March 2019. This strong performance reflects the strength of the economic recovery in the US. In Q1, US GDP rose by 6.4% in annualized terms, up from 4.3% in Q4 bringing the country’s economy close to pre-COVID levels. The business environment for air cargo remains supportive; the new export orders component of the PMI rose to its highest level since 2007. International capacity grew by 1.8% compared with March 2019.
European carriers posted a 0.7% increase in demand in March compared to the same month in 2019. Improved operating conditions and recovering export orders contributed to the positive performance. International capacity decreased by 17% in March 2021 versus March 2019.
Middle Eastern carriers posted a 9.2% rise in international cargo volumes in March 2021 versus March 2019. Month-on-month, Middle East carriers posted the strongest growth of all regions, up 4.4%. Of the region’s key international routes, Middle East-North America and Middle East-Asia have provided the most significant support, rising 28% and 17% respectively in March compared to March 2019. International capacity in March was down 12.4% compared to the same month in 2019.
Latin American carriers reported a decline of 23.6% in international cargo volumes in March compared to the 2019 period; this was the worst performance of all regions. Drivers of air cargo demand in Latin America remain relatively less supportive than in the other regions. International capacity decreased 46.0% compared with March 2019.
African airlines’ cargo demand in March increased 24.6% compared to the same month in 2019, the strongest of all regions. Robust expansion on the Asia-Africa trade lanes contributed to the strong growth. March international capacity decreased by 2.1% compared to March 2019.
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
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
13/03 20:11
Prices of basic lenten products either lower or equal to last year's in Greece
13/03 19:15
US Ambassador to Athens: Greece secures NATO readiness via Alexandroupolis
13/03 17:19
13/03 12:26
Greece shows new costumes for revamped Olympic Flame-lighting ceremony
12/03 22:46
Epirotes Society of Philadelphia ‘Omonia’ organized 16th Annual ‘Tsipourovradia’
12/03 21:38
The President of the Hellenic Republic to visit Slovakia on March 13-15
12/03 20:29
First afternoon surgeries in Greece kick off at Papageorgiou Hospital in Thessaloniki
11/03 23:58
Greek Foreign Minister: We stand behind Montenegro's European perspective
11/03 23:47
Visa Express for Turkish citizens to commence on five Greek islands in March
11/03 19:40
11/03 18:49
Microsoft Data Center construction kicks off in Spata next to Athens Airport
11/03 17:53
Dodecanese Federation marked 76th Anniversary of Unification with Greece
09/03 22:23
08/03 14:27
Prime Minister: Radical change in Greek education and a brave reform for growth
08/03 14:24
Traffic restrictions expected in Athens mid-morning to evening on Friday due to protests
08/03 14:24
Applications to out-of-court settlement more than doubled in Greece in February
08/03 13:18
Metro station 'Maniatika' near Piraeus Port to be closed on Saturday and Sunday
07/03 14:12
Athens wins World Travel Award 2024 as the top city-break destination in Europe
06/03 22:51
WTTC data show Greece and Portugal lead league for growth in tourist arrivals
06/03 20:28
Greek Tourism Minister at ITB: 2024 will be another excellent year for sector
06/03 19:47
Greek Foreign Minister to meet UAE Minister of Industry and Technology on Friday
06/03 18:43
European Union actions of 274m euros to support cultural heritage in Greece
06/03 16:37
'Odontotos' rack railway temporarily stopped until landslides issue is resolved
06/03 14:40
Minister: Bringing about the return of Greeks abroad 'a moral duty'
05/03 14:28
Archdiocese of America Eparchial Synod to meet on March 14-17 in Florida
05/03 14:21
05/03 14:11
ITB BERLIN 2024 opens with excellent bookings after global rise in travel in 2023
05/03 12:24
Greek PM at Athens supermarket: Consumers 'can already see lower prices on the shelf'
04/03 22:02
Greek Health Minister: Afternoon surgeries at state hospitals to begin shortly
04/03 21:47
Holy Cross Greek Orthodox Whitestone Community marks 49th Anniversary
04/03 20:27
Labor chief: Greece to train 500,000 workers in digital, green skills by 2025
04/03 19:44
Foreign Ministry to organize event on 'Women, Peace, and Security' on Friday
04/03 15:12
Athens Riviera | The summer experience with Athens as a background
29/02 22:54
Consumers to see price cuts up to 18.1% in 3,000 Greek supermarket products as of Friday
29/02 21:44
Greece and Germany set up Working Group on shipping cooperation
29/02 21:30
Wyndham Rewards’ Member Month offers 5 weeks of deals, discounts, and bonus points
29/02 21:03
Temple of Poseidon at Sounion near Athens to get new lighting system
29/02 21:02
29/02 20:47
Greece is represented by 60 firms at GULFOOD 2024 exhibition
29/02 19:58
Greek government gives 1+1 month extension for cash register-integrated POS terminals
29/02 19:49
Archangel Michael Church Dance Program shines at Folk Dance Festival in SF
29/02 15:39
'Renovate-rent' programme to be launched, Minister tells Greek Parliament
29/02 12:39
Rio-Antirrio ferry line in central Greece closed due to strong winds
28/02 21:34
Weather with heavy rain and storms in Greece as of Sunday night
28/02 17:31
CEO: The goal is for PPC to become a leading player in Southeast Europe
28/02 17:04
New Wyndham Hotels Market Managing Director of Central and Eastern Europe
28/02 12:21
Minister: Transactions with the Greek State will be further simplified in 2024
28/02 11:57
27/02 17:25
UN Tourism hails Saudi Arabia's historic milestone of 100 million tourists
27/02 15:00
Greek Prime Minister: Relations with Armenia can become even more productive
27/02 14:26
Wyndham: New growth cycle in Greece for the largest hotel chain franchise in the world
27/02 13:15
Price cuts of up to 15% in important product categories in Greece after March 1
27/02 12:46
Athens taxi drivers' protest rally in progress from Athinon avenue to Messogion
26/02 18:30
Annual Summit of Women Political Leaders (WPL) to be held in Athens in April
26/02 18:27
Culture Ministry: Schwartz Mansion in Ampelakia near Larisa to get new lighting
26/02 17:25
Greek president organizes reception for diplomats at Presidential Mansion
26/02 16:33
Trapped rack-railway passengers returned safely to Diakopto in Peloponnese
26/02 16:21
Public transport, ferry and taxi strikes in Athens on Wednesday
25/02 12:30
Greek island of Ikaria among the Blue Zones for Health Eating and Longevity
New requirements for 'Golden Visa' program to kick in on March 31
Greek State budget primary balance reaches a surplus of 3,378 million euros
PM at Economic Club of Canada: Greece is an attractive investment destination
Greek Parliament lights to be turned off for Earth Hour 8:30-9:30 pm
Athenians continue to head out of the Greek Capital for March 25 long weekend
Ancient Messene to get upgraded visitors' facilities after approval by Council
St. Thomas Hellenic School honors 1821 and the Feast of the Annunciation in NJ
US President on Greek Independence Day: Alliance with Greece stronger than ever
High diplomacy and geopolitics at Delphi Economic Forum IX in Greece
Tax authorities enable payments with foreign bank cards in Greece
Greek Deputy Transport Minister flies in first test seaplane flight from Lavrio port
Athens streets reopen after private university protest rally and minor incidents
Minister: Greece to support Bulgaria and Romania in joining the Schengen zone
Ski resort on Mt. Pelion of central Greece in full operation
AEGEAN concludes transfer of stake in Animawings to Memento Group
3-year stay and work permits approved for 30,000 undocumented migrants in Greece
Sector chiefs report: Good news for Greek tourism in 2024 at ITB Berlin
Greece ranks first on list of countries with fastest business environment progress
Foreign Ministers: Cooperation between Greece & Egypt should 'serve as an example'
Sailing from ports of Piraeus and Lavrio back to normal after high-velocity winds end
Greek president organizes reception for diplomats at Presidential Mansion
Greek Prime Minister to meet Bulgarian counterpart at Maximos Mansion
Holiday opening hours for shops resume in Greece on Wednesday