AIR CARGO DEMAND SOFTENS
On 9 January, IATA released data for November 2022 global air cargo market, which showed that demand has softened. According to the published figures, global demand fell 13.7% (measured in cargo tonne-kilometers) compared to November 2021 (-14.2% for international operations).
European carriers saw a 16.5% decrease in cargo volumes in November 2022 compared to the same month in 2021, which represented an improvement in performance compared to October (-18.8%) due to stronger new export orders in Germany. IATA highlighted that airlines in the region continue to be affected by the War in Ukraine and by high levels of inflation. Furthermore, capacity decreased 6.6% in November 2022 compared to November 2021.
Willie Walsh, IATA’s Director General, pointed out that the sector is being resilient despite economic uncertainties, as shown with demand remaining relatively stable on a month-to-month basis. However, he warned that “shrinking export orders globally and China’s rising COVID cases are cause for careful monitoring.’’
Source: IATA