According to data for the month of August released by the International Air Transport Association (IATA) global air cargo markets demonstrated the industry’s resilience amid economic uncertainties.
Global demand, measured in cargo tonne-kilometers, 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.
IATA notes 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.
Asia-Pacific airlines saw their air cargo volumes decrease by 8.3% in August 2022 compared to the same month in 2021. This was an improvement over the 9.0% decline in July.
North American carriers posted a 3.4% decrease in cargo volumes compared to the same month in 2021, an improvement over the 5.7% decline in July.
European carriers saw a 15.1% decrease in cargo volumes compared to the same month in 2021. This was the worst performance of all regions for the fourth month in a row. This is attributable to the war in Ukraine.
Middle Eastern carriers experienced an 11.3% year-on-year decrease in cargo volumes in August. Stagnant cargo volumes to/from Europe impacted the region’s performance.