Geneva – The International Air Transport Association (IATA) released data for July 2022 global air cargo markets showing that demand continued to track at near pre-pandemic levels in July (-3.5%), but below July 2021 performance (-9.7%).
Note: We have returned to year-on-year traffic comparisons, instead of comparisons with the 2019 period, unless otherwise noted.
Global demand, measured in cargo tonne-kilometers (CTKs*), fell 9.7% compared to July 2021 (-10.2% for international operations). Demand stood at -3.5% compared to July 2019.
Capacity was 3.6% above July 2021 (+6.8% for international operations) but still 7.8% below July 2019 levels.
Several factors in the operating environment should be noted:
- New export orders, a leading indicator of cargo demand, decreased in all markets, except China which began a sharp upward trend in June.
- The war in Ukraine continues to impair cargo capacity used to serve Europe as several airlines based in Russia and Ukraine were key cargo…