Global Cargo demand slumps by 15.2% 

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Global Cargo demand slumps by 15.2% 

 

Chinazor Megbolu     |     

The global demand for cargoes has slumped by 15.2 percent. The measurements in cargo tonne kilometers (CTKs), slumped by 15.2 percent in March 2020 if compared to 2019, which was -15.8 percent for interna­tional markets.

The new statistics released by the International Air Transport As­sociation (IATA) stated that
African airlines were however, less affected by disruptions in March 2020.  IATA noted the African carriers saw year-on-year growth in interna­tional CTKs fall by 1.2 percent follow­ing the positive annual outcomes in January and February 2020.
The statistics showed that Africa-Asia market was the only trade lane, that continued to post growth in March, with volumes up almost 10 percent year-on-year. It added that the international capacity decreased by 8.2 percent while global capacity, which is measured in avail­able cargo tonne kilometers,  decreased by 22.7 percent in March compared to 2019, which -24.6 percent for international markets.
The statistics also hinted that international markets account for 87 percent of air cargo and adding that belly capacity for international air cargo decreased by 43.7 percent in March compared to 2019.
Furthermore, it maintained that it was partially offset by a 6.2 percent increase in capacity through ex­panded use of freighter aircraft, includ­ing the use of idle passenger aircraft for all-cargo operations.
According to Director-General, IATA, Mr. Alexandre de Juniac; “at present, we don’t have enough capacity to meet the remaining demand for air cargo. Volumes fell by over 15 percent in March compared to the previ­ous year.
“But, capacity plummeted by almost 23 percent. The gap must be addressed quickly because vital sup­plies must get to where they are needed most. For example, there is a doubling of demand for pharmaceutical ship­ments that are critical to this crisis.
“With most of the passenger fleet sit­ting idle, airlines are doing their best to meet demand by adding freighter services, including adapting passenger aircraft to all-cargo activity. But, mount­ing these special operations continue to face bureaucratic hurdles.
“Govern­ments must cut the red tape needed to approve special flights and ensure safe and efficient facilitation of crew”.
Meanwhile, the jobs of nearly seven million people are at risk due to #COVID-19 pandemic, which had continued to reduce airline passenger traffic.  IATA said the company Boeing is planning to reduce its total number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover, and involuntary layoffs.
According to Boeing President and Chief Executive Officer, Mr. David Calhoun; “the Covid-19 pandemic is affecting every aspect of our business, including airline customer demand, production continuity and supply chain stability.
“Our primary focus is the health and safety of our people and communities while we take tough but necessary action to navigate this unprecedented health crisis and adapt for a changed marketplace”.

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