AIR CARGO DEMAND SOFTENS IN SEPTEMBER
The International Air Transport Association (IATA) has released data for September 2022 global air cargo markets showing that air cargo demand softened. Global demand, measured in cargo tonne-kilometers (CTKs), fell 10.6% compared to September, but continued to track at near pre-pandemic levels (-3.6%). Capacity was 2.4% above September 2021, but still 7.4% below September 2019 levels.
In terms of regional developments European carriers saw a 15.6% decrease in cargo volumes in September 2022 compared to the same month in 2021. This was on a par with August’s performance (-15.1%). IATA notes that this is attributable to the Russian war in Ukraine, labour shortages and high inflation levels, most notably in Turkey, also affecting volumes. Capacity increased 0.2% in September 2022 compared to September 2021.