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International Air Transport Association releases January 2021 data for global air cargo markets

January air cargo demand recovers to pre-COVID levels

The International Air Transport Association (IATA) released January 2021 data for global air cargo markets showing that air cargo demand returned to pre-COVID levels (January 2019) for the first time since the onset of the crisis. January demand also showed strong month-to-month growth over December 2020 levels.

Because comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted all comparisons to follow are to January 2019 which followed a normal demand pattern.

  • Global demand, measured in cargo tonne-kilometers (CTKs*), was up 1.1.% compared to January 2019 and +3% compared to December 2020. All regions saw month-on-month improvement in air cargo demand, and North America and Africa were the strongest performers.
  • The recovery in global capacity, measured in available cargo tonne-kilometers (ACTKs), was reversed owing to new capacity cuts on the passenger side. Capacity shrank 19.5% compared to January 2019 and fell 5% compared to December, the first monthly decline since April.
  • The operating backdrop remains supportive for air cargo volumes:
    • Conditions in the manufacturing sector remain robust despite new COVID-19 outbreaks that dragged down passenger demand. The global manufacturing Purchasing Managers’ Index was at 53.5 in January.
    • The new export orders component of the manufacturing PMI – a leading indicator of air cargo demand– continued to point to further CTK improvement. However, the performance of the metric was less robust compared with Q42020 as COVID-19 resurgence negatively impacted export business in emerging markets. Should this continue or expand to other markers, it could weigh on future air cargo growth.
    • The level of inventories remains relatively low compared to sales volumes. Historically, this has meant that businesses had to quickly refill their stocks, for which they also used air cargo services.

“Air cargo traffic is back to pre-crisis levels and that is some much-needed good news for the global economy. But while there is a strong demand to ship goods, our ability is capped by the shortage of belly capacity normally provided by passenger aircraft. That should be a sign to governments that they need to share their plans for restart so that the industry has clarity in terms of how soon more capacity can be brought online,” said Alexandre de Juniac, IATA's Director General.

January Regional Performance
Asia-Pacific airlines saw demand for international air cargo fall 3.2% in January 2021 compared to the same month in 2019. This was an improvement from the 4.0% fall in December 2020. International capacity remained constrained in the region, down 27.0% versus January 2019, which was a deterioration compared to the 26.2% year-over-year decline recorded in December. The region’s airlines reported the highest international load factor at 74.0%.

Click here to read the full Press Release.


Corporate Communications
Tel: +41 22 770 2967
Email: corpcomms@iata.org


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