The International Air Transport Association (IATA) released data for global air freight markets showing that full-year demand for air cargo increased by 6.9% in 2021, compared to 2019 (pre-covid levels) and 18.7% compared to 2020 following a strong performance in December 2021.
This was the second biggest improvement in year-on-year demand since IATA started to monitor cargo performance in 1990 (behind 2010’s 20.6% gain).
Global demand in 2021, measured in cargo tonne-kilometers (CTKs*), was up 6.9 % compared to 2019 (7.4% for international operations). Capacity in 2021, measured in available cargo tonne-kilometers (ACTKs), was 10.9% below 2019 (12.8% for international operations).
Improvements were demonstrated in December; global demand was 8.9% above 2019 levels (9.4% for international operations). This was a significant improvement from the 3.9% increase in November and the best performance since April 2021 (11.4%). Global capacity was 4.7% below 2019 levels (‑6.5% for international operations).
The lack of available capacity contributed to increased yields and revenues, providing support to airlines and some long-haul passenger services in the face of collapsed passenger revenues. In December 2021, rates were almost 150% above 2019 levels.
Global goods trade rose 7.7% in November (latest month of data), compared to pre-crisis levels. Global industrial production was up 4.0% over the same period.
Labor shortages, partly due to employees being in quarantine, insufficient storage space at some airports and processing backlogs continue to put pressure on supply chains.
“Air cargo had a stellar year in 2021. For many airlines, it provided a vital source of revenue as passenger demand remained in the doldrums due to COVID-19 travel restrictions. Growth opportunities, however, were lost due to the pressures of labor shortages and constraints across the logistics system. Overall, economic conditions do point towards a strong 2022,” said Willie Walsh, IATA’s Director General.
African airlines saw international demand grow 11.3% in 2021 compared to 2019 and a fall in international capacity of 14.6%. Growth in the region has been dynamic for most of the year, driven by the strength of the Africa-Asia route. In December, international demand grew by 7.6% year-on-year and international capacity fell 19.4%.
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