IATA report: International air cargo demand rises 9.4% in October
The International Air Transport Association (IATA) released October 2021 data for global air cargo markets showing that demand continued to be well above pre-crisis levels and that the capacity constraints have eased slightly.
As comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted, all comparisons below are to October 2019 which followed a normal demand pattern.
Global demand, measured in cargo tonne-kilometers (CTKs*), was up 9.4% compared to October 2019 (10.4% for international operations).
Capacity constraints have eased slightly but remain 7.2% below pre-COVID-19 levels (October 2019) (-8.0% for international operations).
Economic conditions continue to support air cargo growth but are slightly weaker than in the previous months. Several factors should be noted:
Supply chain disruptions and the resulting delivery delays have led to long supplier delivery times. This typically results in manufacturers using air transport, which is quicker, to recover time lost during the production process. The global Supplier Delivery Time Purchasing Managers Index (PMI) reached an all-time low of 34.8 in October; values below 50 are favorable for air cargo.
Relevant components of the October PMIs (new export orders and manufacturing output) have been in a gradual slowdown since May but remain in favorable territory.
The inventory-to-sales ratio remains low ahead of the peak year-end retail events such as Christmas. This is positive for air cargo as manufacturers turn to air cargo to rapidly meet demand.
Global goods trade and industrial production remain above pre-crisis levels.
The cost-competitiveness of air cargo relative to that of container shipping remains favorable.
“October data reflected an overall positive outlook for air cargo. Supply chain congestion continued to push manufacturers towards the speed of air cargo. Demand was up 9.4% in October compared to pre-crisis levels. And capacity constraints were slowly resolving as more passenger travel meant more belly capacity for air cargo. The impact of government reactions to the Omicron variant is a concern. If it dampens travel demand, capacity issues will become more acute. After almost two years of COVID-19, governments have the experience and tools to make better data-driven decisions than the mostly knee-jerk reactions to restrict travel that we have seen to date. Restrictions will not stop the spread of Omicron. Along with urgently reversing these policy mistakes, the focus of governments should be squarely on ensuring the integrity of supply chains and increasing the distribution of vaccines,” said Willie Walsh, IATA’s Director-General.
Air cargo market detail - October 2021
OCTOBER 2021 VERSUS OCTOBER 2019 |
WORLDSHARE1 | CTK | ACTK | CLF(%-PT)2 | CLF(LEVEL)3 |
---|---|---|---|---|---|
Total Market
|
100.0%
|
9.4%
|
-7.2%
|
8.5%
|
56.1%
|
Africa
|
2.0%
|
25.9%
|
6.6%
|
6.9%
|
45.0%
|
Asia Pacific
|
32.6%
|
3.6%
|
-15.7%
|
12.3%
|
66.1%
|
Europe
|
22.3%
|
9.0%
|
-7.2%
|
9.3%
|
62.6%
|
Latin America
|
2.4%
|
-5.8%
|
-22.7%
|
7.5%
|
42.1%
|
Middle East
|
13.0%
|
9.4%
|
-8.7%
|
9.5%
|
57.2%
|
North America
|
27.8%
|
18.6%
|
3.1%
|
5.9%
|
44.9%
|
1) % of industry RPKs in 2020 2) Change in load factor vs. the same month in 2019 3) Load Factor Level
October Regional Performance
Asia-Pacific airlines saw their international air cargo volumes increase 7.9% in October 2021 compared to the same month in 2019. This was close to a doubling in growth compared to the previous month’s 4% expansion. The improvement was partly driven by increased capacity on Europe-Asia routes as several important passenger routes reopened. Belly capacity between the continents was down 28.3% in October, much better than the 37.9% fall in September. International capacity in the region eased slightly in October, down 12.9% compared to the previous year, a significant improvement over the 18.9% drop in September.
North American carriers posted an 18.8% increase in international cargo volumes in October 2021 compared to October 2019. This was on par with September’s performance (18.9%). Demand for faster shipping times and strong US retail sales are underpinning North American performance. International capacity was down 0.6% compared to October 2019, a significant improvement from the previous month.
European carriers saw an 8.6% increase in international cargo volumes in October 2021 compared to the same month in 2019, an improvement compared to the previous month (5.8%). Manufacturing activity, orders, and long supplier delivery times remain favorable to air cargo demand. International capacity was down 7.4% compared to pre-crisis levels, a significant improvement from the previous month which was down 12.8% on pre-crisis levels.
Middle Eastern carriers experienced a 9.4% rise in international cargo volumes in October 2021 versus October 2019, a significant drop in performance compared to the previous month (18.4%). This was due to a deterioration in traffic on several key routes such as Middle East-Asia, and Middle East-North America. International capacity was down 8.6% compared to October 2019, a decrease compared to the previous month (4%).
Latin American carriers reported a decline of 6.6% in international cargo volumes in October compared to the 2019 period, which was the weakest performance of all regions, but an improvement compared to the previous month (a 17% fall). Capacity in October was down 28.3% on pre-crisis levels, a decrease from September, which was down 20.8% in the same month in 2019.
African airlines saw international cargo volumes increase by 26.7% in October, a deterioration from the previous month (35%) but still the largest increase of all regions. International capacity was 9.4% higher than pre-crisis levels, the only region in positive territory, albeit on small volumes.
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
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
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’
Greek capital of Athens among top-10 most beautiful cities for the second time
PM at Axia discussion: Greece offering great investment opportunities in 2023
ATHEX chief: Venture Capital for 'new generation' digital fintech solutions
Tri-city winter luncheon unites upstate New York Philoptochos chapters
Priceless antiquities returned to the people of Greece at New York Consulate
ELSTAT: Hospitality enterprises' turnover grows 28.6% in Greece during Q1
Bill lifting restrictions for Greeks voting from abroad greenlighted by majority vote
Greek supermarkets record rise in value and decline in volume of FMCG sales
Impressive statue of Hercules unearthed in Philippi of Northern Greece
UNWTO promotes people's role and MSMES as sector transformation agents
World Taste Atlas: Greek cuisine is the second best on the planet
Severe weather front to continue across Greece until Wednesday (video)
Deadline to file taxes is extended in Greece to July 31 by Finance Ministry
New publication: 'I am not Maria - I am Callas: Her real life and an eon of myths'
Hellenic Film Society USA presents Maria by Callas at MoMI in New York
Hellenic-American Cultural Foundation presents lecture with US University President
Greek Tourism Minister: Passenger location form to be abolished in Greece as of March 15
Volcano lights up in spectacular display of fireworks on Greek island of Santorini
National Polytechnic of Athens commemorates 49th uprising anniversary
Infrastructure works on Spinalonga island to assist visitors and protect the monument
Inspirational project promoting Hellenism and love for Greece globally (video)