Geneva – The International Air Transport Association (IATA) released August 2022 data for global air cargo markets which demonstrated the industry’s resilience amid economic uncertainties.
- Global demand, measured in cargo tonne-kilometers (CTKs*), fell 8.3% compared to August 2021 (-9.3% for international operations). This was a slight improvement on the year-on-year decline of 9.7% seen in July.
- Capacity was 6.3% above August 2021 (+6.1% for international operations). This is a significant expansion over the 3.6% year-on-year increase in July.
- Several factors should be noted in the operating environment:
- Global goods trade expanded slightly in August and the additional easing of COVID-19 restrictions in China will positively impact cargo markets. While maritime will be the main beneficiary, air cargo will also receive a boost from these developments.
- Inflation levels in G7 countries slowed for the first time since November 2020.
- Oil prices stabilized in August and the jet…