IATA RELEASES DATA ON GLOBAL AIR CARGO MARKET IN FEBRUARY
On 4 April, IATA released data on global air cargo demand in February 2023, showing that the demand rose above pre-pandemic levels for the first time in eight months.
Global demand for air cargo measured in cargo tonne-kilometers (CTKs) fell by 7.5% compared to February 2022 but this was half the rate of decline seen in the previous two months. Capacity measured in available cargo tonne-kilometers (ACTK) rose by 8.6% compared to February 2022 due to the addition of belly capacity as the passenger side of the business continues to recover. International belly-capacity grew by 57% in February year-over-year, reaching 75.1% of pre-pandemic capacity in 2019.
The report highlighted that the global new export orders component of the manufacturing PMI (Purchasing Managers Index) increased in February, due to growing demand for manufactured goods from the world's largest export economy. However, European carriers saw the weakest performance of all regions, with a 15.3% decrease in cargo volumes in February 2023 compared to the same month in 2022 due to being the most affected by the war in Ukraine.
Source: IATA