Air cargo market makes improvement in Middle East

Air cargo market makes improvement in Middle East

Caption: Air cargo market makes improvement in Middle East

The air cargo market in the Middle East made a significant improvement in freight volumes in September.

New data from the International Air Transport Association (IATA) shows that Middle Eastern carriers reported a decline of 2.5% in year-on-year international cargo volumes in September, a jump from the 6.7% fall in August.

“The region was one of the most severely affected by Covid-19,” a statement from IATA said. “However, due to regional airlines aggressively adding capacity following the peak of the crisis, it has seen a sharp V-shaped recovery.”

“Air cargo volumes are down on 2019, but they are a world apart from the extreme difficulties in the passenger business,” said Alexandre de Juniac, IATA’s CEO.

“For air cargo, 92% of the business is still there, whereas about 90% of international passenger traffic has disappeared. Favourable indicators for the peak year-end season will support the continued recovery in demand. Already North American and African carriers are reporting demand gains on 2019.

“The challenge continues to be on capacity. As carriers adjust schedules to reflect falling passenger demand amid the resurgence of Covid-19, valuable belly capacity will be lost when it is needed the most.”