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 Vshaped recovery.”

International capacity was down 23.5% in September compared to the same period last year.

Global demand was 8% below previous-year levels in September. That is an improvement from the 12.1% year-on-year drop recorded in August. Month-on-month demand grew by 3.7% in September.

Global capacity shrank by 25.2% in September compared to the previous year. That is nearly three times larger than the contraction in demand, indicating a severe lack of capacity in the market, IATA said.

“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.

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