The state of air cargo and global trade
The COVID-19 pandemic is a health and humanitarian crisis, and it is also an economic shock. We will be providing weekly updates throughout the COVID-19 crisis on air cargo capacity changes based on actual flight movements.
With our comprehensive, reliable and up-to-date demand and supply databases, Seabury Consulting, now part of Accenture's travel industry practice, is able to provide insights and data on air, express and ocean freight demand and capacity on a global basis.
Global air cargo capacity declined 17% in the last two weeks compared to last year
Most trade lanes again show double-digit declines vs. last year. The Transpacific is the only trade lane that remained relatively stable. Latin America - North America air cargo capacity is back to double-digit decline.
Air trade is almost back to 2019 levels as it dropped only 2% in November
Air trade demand recovers steadily despite capacity constraints; however, air trade is still highly affected by the strong declines in Q2 2020, with January to November 2020 air trade declining 10% compared to 2019. Demand for air freight has fallen much less than capacity, strongly increasing load factors.