UPDATE - Air cargo demand improves in November

UPDATES WITH MORE FIGURES AND REVISES DECK

By Yunus Girgin

ANKARA (AA) - The global air freight markets improved in November on a monthly basis, but passenger demand remained depressed compared to 2019, according to a leading trade group.

Air cargo demand continued to improve, increasing 1.6% month-on-month in November, the International Air Transport Association (IATA) said in a statement on Thursday.

The group added that the global air freight market narrowed 6.6% on an annual basis in the month.

Global capacity, measured in available cargo ton-kilometers, shrank by 20% in November (21.3% for international operations) compared to the previous year.

"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," underlined Alexandre de Juniac, the group's CEO.

On the other hand, North America was the only region reporting year-on-year increase in demand with 5%.

Current month-on-month gains indicate that cargo tone-kilometers will return to 2019 levels around March or April 2021, IATA noted.

- Air passenger demand still depressed in November

Total air passenger demand was down 70.3% compared to November 2019, almost unchanged from the 70.6% year-to-year decline recorded in October.

International passenger demand fell 88.3% year-on-year in November, slightly worse than the 87.6% year-to-year fall in October.

Domestic demand in the month was also down 41% compared to the year earlier.