A small improvement in the air transport market occurred in the global air freight industry in May, but the ability to satisfy demand remained unable as a result of the loss of cargo belly on passenger airliners parked, says the International Air Transport Association ( IATA).

The global demand for cargo tonne-kilometers (CTKs) has decreased by 20.3% in May, compared to the previous year, the trade group for the global airline industry.

"That is an improvement from the 25.6 percent year-on-year drop recorded in April,” it said in a statement. 

Global efficiency in CTKs (ACTKs) was decreased by 34.7%, a modest decelerated from a 41.6% fall year on year in April compared to the previous year.

As a result of the reduction of passenger services in the light of the COVID-19 crisis, IATA said the belly capacity for international air cargo decreased by 66,4 percent in May, a marginal improvement over the year-on-year decrease of 75.1 percent in April.

The increase in capacity by increased usage of freighter aircraft has been partially balanced by 25.2 percent.

Meanwhile, IATA said that in May the cargo load factor increased by 10.4 percentage points, slightly lower than the April increase by 12.8 percentage points.

However, the increase shows that the demand for air cargo remains pent-up, which can not be met because many passenger flights remain grounded.

"Global export orders continue to fall but at a slower pace. The Purchasing Managers Index (PMI) tracking new manufacturing export orders improved from the trough seen in April despite remaining in contractionary territory," it said.

Director-General and Chief Executive Officer Alexandre de Juniac said the gap between demand and capacities shows the challenge to find the space on airliners to market goods. 

“For that, the prospects for air cargo remain stronger than for the passenger business but the future is very uncertain.

“Economic activity is picking up from April lows as some economies unlock. But predicting the length and depth of the recession remains difficult,” he added.