In May, freight volumes rose by around three percent above April levels as manufacturers began to add to their product inventories in anticipation of an economic recovery. However, IATA says inventories remain 10 percent to 15 percent higher than normal in relation to sales levels, indicating that a significant recovery is not expected in the near term.
Latin American carriers were the worst performers with a 21.0 percent fall, followed by Africa (-20.0 percent), Europe (-19.2 percent), North America (-18.8 percent), and Asia Pacific (-18.1 percent).
Middle East carriers were the exception with a 3.7 percent drop.
Source: Air Cargo World