While it’s true that the pandemic has struck everyone hard, from the general public to shippers alike, the economic effects are still not completely understood. In a report by Accenture, it compares the before and after results of air cargo during the pandemic.
Here, the data shows airline freighters have seen a healthy +31% increase since February of 2020, showing demand for air cargo remains strong. However, passenger belly for widebody aircrafts saw a huge drop from February 2020 to May 2020 as domestic and international flights for passengers drastically reduced, hence bringing down air cargo brought by those flights.
As the pandemic situation continues to improve around the world and the general population becomes more receptive to flights, we can see a steep increase in passenger flights, which in turn has brought capacity for passenger belly cargo up. With the situation improving, it looks like it won’t be long until things return to normal.