The International Air Transport Association (IATA) has released data that shows that air cargo demand softened in September.
Global demand, measured in cargo tonne-kilometers (CTKs*), fell 10.6% compared to September 2021 (-10.6% also for international operations), but continued to track at near pre-pandemic levels (-3.6%).
Capacity was 2.4% above September 2021 (+5.0% for international operations) but still 7.4% below September 2019 levels (-8.1% for international operations).
While Asia-Pacific airlines saw their air cargo volumes decrease by 10.7% in September 2022 compared to the same month in 2021, North American carriers posted a 6% decrease in cargo volumes in September 2022 compared to the corresponding month the prevous year. European carriers saw a 15.6% decrease in cargo volumes while Middle Eastern carriers experienced a 15.8% year-on-year decrease.
The strongest performance was by Latin American carriers that reported an increase of 10.8% in cargo volumes in September 2022. African airlines saw cargo volumes increase by 0.1% in September 2022 compared to the same month in 2021.
“While air cargo’s activity continues to track near to 2019 levels, volumes remain below 2021’s exceptional performance as the industry faces some headwinds,” said Willie Walsh, IATA’s Director General. “At the consumer level, with travel restrictions lifting post-pandemic, people are likely to spend more on vacation travel and less on e-commerce. And at the macro-level, increasing recession warnings are likely to have a negative impact on the global flows of goods and services, balanced slightly by a stabilization of oil prices. Against this backdrop, air cargo is bearing up well. And a strategic slow-down in capacity growth from 6.3% in August to 2.4% in September demonstrates the flexibility the industry has in adjusting to economic developments.”
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