Airline Industry Recovery and Performance Insights
Air cargo continue to rise
Demand surge still spread across various sectors from hi-tech, automotive to
pharma.
E-commerce contributed to robust air demand.
> Cargo demand remains strong amidst the upcoming e-commerce heavy
events (Black Friday, Singles Day) and holiday shopping along with new tech product
launched.
☑Healthy PMI index, historically low I/S ratio & peak season indicate strong air cargo
demand.
Continued conversion of ocean freight to air as US port congestion worsens.
Air Cargo vs Global Good Volumes,
Indexed to 100 in 2019
US$ per kilo
3.6
3.4
3.2
3.0
2.8
2.6
2.4
2.2
2.0
1.8
1.6
1.4
1.2
2015
2016
Air Cargo Yields and Load Factors
Index (Jan 2012=100, SA)
Global air cargo yield
127
incl. fuel and other
115
surcharges (LHS)
CTKs
122
110
-Global goods trade
117
105
112
100
Industry-wide
cargo load factor (RHS)
2017
Dotted lines are seasonally
adjusted
2018
2019
107
95
102
90
97
85
80
92
2020
2021
Yields elevated, load factors close to historical
highs
CHINA AIRLINES
2015 2016 2017 2018 2019 2020 2021 2022
Air cargo continue to rise, trend above goods
trade
Source IATA; DHLView entire presentation