Global Air Cargo Volumes Stabilise in May, Halting Three-Month Decline as Rates Remain Elevated
Global air cargo volumes showed signs of stabilization in May, ending a three-month consecutive decline, according to the latest market data from Xeneta. While demand was still down 8% compared to the previous year, this represents a significant improvement from the double-digit drops recorded earlier in 2023. The global dynamic load factor, a measure of cargo capacity utilization, stood at 59%. Despite rates being 37% lower than the highs of May 2022, they remain elevated, sitting 16% above pre-pandemic levels from 2019. This stabilization suggests the market may be nearing its bottom, offering a cautiously optimistic signal for the industry.
Official Source: https://www.stattimes.com/air-cargo/air-cargo-volumes-stabilise-as-global-rates-remain-elevated-in-may-1359310
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