Growth in air cargo volume hits 4-year high

Air cargo volumes increased 9.9% in June, capping the strongest annual first half for carriers since 2017 and giving the industry momentum heading into the traditional holiday shipping season, the International Air Transport Association reported Wednesday.

The news was less sanguine for companies that ship goods and are looking for more space in a crowded market. A large portion of the lift they need comes from passenger aircraft, with cargo riding in the lower deck. Passenger capacity sequentially improved 2.3 points in June, but was still down 60.1% from 2019 levels. And the critical international travel sector, in which widebody aircraft predominate, is still down 80.9%. From the cargo perspective, belly capacity was down 38.9% from June 2019 levels, the airline association said.

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