North American carriers posted a 1.1% increase in demand in 2020 compared to 2019 (-5.2% for international operations) and a fall in capacity of 15.9% (-19.7% for international operations). In December carriers in the region posted an increase of 3.1% in international demand. This was the strongest monthly performance since late 2018. Strong traffic on the Asia-North America routes, which was up 2.1% in 2020, contributed to the performance, driven by strong demand from North American consumers for goods manufactured in Asia. Capacity remained constrained, down 14.1% in December.
Latin American carriers reported a decline in demand of 21.3% in 2020 compared to 2019 (-20.3% for international operations) and a fall in capacity of 35% (-33.6% for international operations). In December international cargo volumes fell by 19.0% compared to the previous year. Air cargo recovery in the region has been affected by adverse economic conditions in markets such as Mexico, Argentina and Peru. Capacity remains highly constraint in the region. International capacity decreased in December by 36.7%, a steepening of the 30.4% fall in November.