JUNE AIR CARGO STABLE AND RESILIENT
On 3 August, the International Air Transport Association (IATA) released data for global air cargo markets showing healthy and stable performance for June 2022. Global demand, measured in cargo tonne-kilometres (CTKs), was 6.4% below June 2021 levels, representing an improvement on the year-on-year decline of 8.3% seen in May. Global demand for the first half-year was 4.3% below 2021 levels. Compared to pre-COVID levels (2019) half-year demand was up 2.2%.
Capacity was 6.7% above June 2021, representing an increase on the 2.7% year-on-year growth recorded in May. Capacity for the first half-year was up 4.5% compared to first half-year of 2021. Compared to pre-COVID levels demand was up 2.5%.
According to the analysis by IATA, the air cargo performance is being impacted by several factors, including trade activity having ramped-up slightly in June as lockdowns in China due to Omicron were eased. Emerging regions (Latin America and Africa) also contributed to growth with stronger volumes. New export orders, a leading indicator of cargo demand and world trade, decreased in all markets, except China. Moreover, the war in Ukraine continued to impair cargo capacity used to serve Europe as several airlines based in Russia and Ukraine were key cargo players.
Source: IATA