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BUSINESS

Global air cargo markets healthy, stable in June 2022 -- IATA

03/08/2022 08:40 PM

KUALA LUMPUR, Aug 3 (Bernama) -- The global air cargo markets showed a healthy and stable performance with global demand and capacity improving in June 2022, according to the International Air Transport Association (IATA).

In a statement today, director general Willie Walsh said air cargo demand in the first half of calendar year 2022 was 2.2 per cent above pre-pandemic levels in the first half of 2019.

"That’s a strong performance, particularly considering the continuing supply chain constraints and the loss of capacity due to the war in Ukraine,” he said, adding that current economic uncertainties have had “little impact” on air cargo demand.

“However, developments will need to be closely monitored in the second half (of 2022),” he said.

Global demand, measured in cargo tonne-kilometers, was 6.4 per cent below June 2021 levels of -6.6 per cent for international operations. 

This was an improvement against the year-on-year decline of 8.3% in May 2022, the statement said.

Meanwhile, capacity for June 2022 was 6.7 per cent above June 2021 (+9.4 per cent for international operations), an increase over the 2.7 per cent year-on-year growth recorded in May 2022.

Capacity for the first six months of 2022 was up 4.5 per cent (+5.7% for international operations) compared to the same period a year ago. Compared to pre-pandemic levels, demand was up 2.5 per cent.

IATA said air cargo performance was impacted by several factors. Trade activity ramped up slightly in June as lockdowns in China due to Omicron eased. Emerging regions like Latin America and Africa saw stronger volumes, contributing to growth.

New export orders, a leading indicator of cargo demand and world trade, decreased in all markets, with the exception of China, while the Ukraine war continues to impair cargo capacity in Europe as several airlines based in Russia and Ukraine were key cargo players, the statement said.

Meanwhile, Asia-Pacific airlines saw their air cargo volumes decreased by 2.1 per cent in June 2022 versus a year ago, which is a significant improvement over the 6.6 per cent decline in May 2022.

Over the first six months of 2022, demand was, however, 2.7 per cent below 2021 levels.

-- BERNAMA

 

 


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