18 April 2023
Canadian Custom Brokerage

Global air cargo demand shows signs of improvement in February

According to data for the month of February released by the International Air Transport Association (IATA) global air cargo demand rose above pre-pandemic levels.

Global demand, measured in cargo tonne-kilometers (CTKs*), was down 7.5% compared to February 2022 (-8.3% for international operations). This was half the rate of annual decline seen in the previous two months (-14.9% and -15.3% respectively).

However, IATA notes that the February demand for air cargo was 2.9% higher than pre-pandemic levels (February 2019) – the first time it has surpassed pre-pandemic levels in eight months.

Capacity (measured in available cargo tonne-kilometers, ACTK) was up 8.6% compared to February 2022. The strong uptick in ACTKs reflects the addition of belly capacity as the passenger side of the business continues to recover. International belly-capacity grew by 57.0% in February year-over-year, reaching 75.1% of the 2019 (pre-pandemic) capacity.

“The story of air cargo in February is one of slowing declines,” said Willie Walsh, IATA’s Director General. “Year-on-year demand fell by 7.5%. That’s half the rate of decline experienced in January. This shifting of gears was sufficient to boost the overall industry into positive territory (+2.9%) compared to pre-pandemic levels. An optimistic eye could see the start of an improvement trend that leads to market stabilization and a return to more normal demand patterns after dramatic ups-and-downs in recent years”

Source: IATA

More news

Demande de soumission

Faites-nous part des détails de votre demande d’évaluation de coûts.

Request a quote

Let us know the details of your cost estimate request.