Air shipments increased by 9% in the month of February compared to 2019 in the same month, as demand for air travel is so strong that levels have risen shockingly. The last time these increases occurred was when the U.S.-China trade dispute began in 2018.
The high demand is due to the recovery of the global economy and industrial production where several weeks of transport have been common as low inventory has forced companies to use air to restock. On the industrial front, the main demand for airfreight is due to strong manufacturing production and new export orders, and with the blockade of the Suez Canal for almost a week, it was a boost for airfreight shippers to speed up deliveries.
Air cargo throughput has also slowed in recent months as carriers have halted flights in response to the blockades, as 40% of cargo movement depends on ground transportation. The strongest air cargo market is in North America, as cargo volumes have been above previous levels due to the crisis, and the weakest air cargo market is in Latin America, as it is exempt from the reinforcement of this cargo mode.