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 27% last week compared to last year
Westbound Transpacific capacity declines -1% compared to last year. Asia Pacific – Europe declines by -34%. The Transatlantic remains -50% lower than last year. North America to Latin America cargo capacity decreased by only 8%.
North America - Latin America belly decline partially compensated by freighter increase
Belly capacity decreased by 81% compared to 2019, in line with the global average. The ~2,250 tonnes per week of additional freighter capacity compensates for 44% of the total belly loss. Brazil widebody belly capacity decreased on average 300 tonnes per day last week.
The COVID-19 outbreak has reversed the China to USA trend caused by the trade war
Personal Protective Equipment (PPE), medical equipment and working from home articles are the main drivers of the recent increase in imports from China. it is uncertain whether these changes will remain in the longer term.