The latest statistics show that air cargo demand has softened, according to the International Air Transport Association (IATA). Global demand, measured in cargo tonne-kilometers (CTKs), fell 10.6% compared to September 2021 (the same for international operations), but continued to track at near pre-pandemic levels (-3.6%).
As for capacity, it 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 air cargo’s activity continues to track near to 2019 levels, volumes remain below 2021’s exceptional performance as the industry faces some headwinds. … 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,” notes Willie Walsh, IATA’s director general. “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.”
Read more about the latest air cargo numbers here.