CH Robinson Observes 70% YoY Decline in Belly Capacity Resulting Downturn in Air Cargo Availability

Airfreight volume fell nearly 18% year over year (YoY) in June, according to the latest numbers from the International Air Transport Association (IATA). Freight capacity fell 34% YoY in June. "Cargo is, by far, healthier than the passenger markets but doing business remains exceptionally challenging," IATA CEO Alexandre de Juniac said in a statement. "While economic activity is re-starting after major lockdown disruptions there has not been a major boost in demand." In June, a 70% YoY decline in belly capacity drove a downturn in overall air cargo availability, as passenger flights have not returned to a pre-pandemic level. A 32% YoY increase in dedicated freighter capacity has not been enough to offset the passenger planes stripped from the market. Some airfreight operators have seen rare bright spots in their business as airfreight capacity has shriveled. C.H. Robinson's airfreight revenue more than doubled in the second quarter compared to the same time last year, according to the company's earnings.