The latest findings of World Air Cargo Data (World ACD) confirm the extreme volatility in the air cargo market, with its latest set of market data supporting the notion that "we have seen weekly changes hitherto unknown".
These included sudden and unpredicted changes in capacity, load factors, ‘new’ aircraft types, and airline yields, World ACD said.
Interestingly, air cargo revenue was not part of what ailed the global airfreight sector, the data aggregator said.
“Though worldwide volume year-on-year (y-o-y) contracted by more than 18% in H1-2020 (1st half), revenue in US$ increased by almost 21%, thanks to the capacity shortage as from Mid-March.”
The Middle East South Asia market, also known as Mesa, and Europe had suffered the biggest volume setbacks, World ACD found, namely decreases of 32% and 22% respectively.
“In incoming traffic, Asia Pacific and Europe each lost 16% y-o-y, while other regions lost more. The average rate of transporting one kilogram by air rose by 48% worldwide, with the largest increase from Asia Pacific (+76%) and smallest from Latin America (+10%).”
This is an ongoing story. Please see Freight News for more from World ACD’s findings tomorrow.
