IATA: Cargo volumes improve 'slightly' in three months to Jul-2020, load factors and yields ease

IATA reported (16-Sep-2020) global air cargo volumes "lifted slightly" in the three months to Jul-2020, following the resumption of global economic activity in May-2020. CTKs remain 16.6% lower year-on-year, but this is an improvement from the low of -26% in Apr-2020. North America and Africa were the most resilient regions in the three months to Jul-2020. IATA stated the recovery of cargo volumes has been impacted by capacity constraints, with a 24.2% decline in industry wide capacity so far in 2020, driven by the lack of bellyhold capacity. This "capacity crunch" resulted in record high cargo load factors and yields in Apr/May-2020, but both have since eased "a little". IATA commented: "Cargo revenues have supported airline finances and network restart and are one of the few bright spots in an industry that remains under enormous pressure from COVID-19". The association stated leading indicators, including new export orders and business confidence, suggest further improvement in cargo volumes in the coming month. [more - original PR]