Air freight showing signs of ‘structural recovery’
June’s 6% month-on-month improvement despite falling demand for PPE is a sign of the sector taking ‘its first steps to a structural recovery’, reports market specialist CLIVE.
Higher air freight volumes in June compared with May are a sign of the air freight sector taking “its first steps to a structural recovery”, according to air cargo market analysis by CLIVE Data Services, highlighting that the 6% month-on-month improvement came despite falling demand for emergency medical equipment – which had distorted the market and inflated demand and pricing in some previous months.
In its latest monthly “first-to-market” update on air freight market trends, CLIVE highlighted that “as PPE volumes faded, global air cargo volumes in June provided the first real indicators of structural recovery”, adding: “The industry seems to be ‘slowly getting back up on its feet’ as volumes in the first four weeks climbed 6% versus the full four weeks of May.”
The latest air cargo market analyses by CLIVE Data Services also showed volumes in the last week of June were 12% higher than in the final week of May. And it said the year-on-year performance gap further also closed in June, with global volumes at -25% versus June 2019, compared to the -31% annual disparity for May.
Available capacity in this reporting period remained flat, but the last two weeks of June saw capacity creeping up slowly, week over week, by around 1.5% per week, the analyst noted.
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