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November report indicates a decrease in air cargo compared to October, but a rise in global demand compared to pre-Covid numbers
Recently released November 2021 data for global air cargo markets showed slower growth, with supply chain issues and capacity constraints being contributing factors, according to the International Air Transport Association (IATA).
Global demand, measured in cargo tonne-kilometers (CTKs), was up 3.7% compared to November 2019, and up 4.2% for international operations. This was significantly lower than the 8.2% growth seen in October 2021 (2% for international operations) and in months prior.
Capacity was 7.6% below November 2019, and below 7.9% for international operations during that same timeframe.
“Air cargo growth was halved in November compared to October because of supply chain disruptions. All economic indicators pointed towards continued strong demand, but the pressures of labor shortages and constraints across the logistics system unexpectedly resulted in lost growth opportunities," says Willie Walsh, IATA’s director general. “Manufacturers, for example, were unable to get vital goods to where they were needed, including PPE. Governments must act quickly to relieve pressure on global supply chains before it permanently dents the shape of the economic recovery from Covid-19.”