There are \u201ca huge number of challenges\u201d facing the air cargo industry, and the broader aviation space, with staffing a major concern, according to TIACA director general Glyn Hughes.<\/p>\n
He said that, early in 2022,\u00a0\u201cthe industry was doing well and the global economy looking good, despite COVID. And then a certain event happened in Europe \u2013 the invasion of Ukraine.”<\/p>\n
This impacted energy costs, the price of fuel in the industry, the cost of production and consumers\u2019 purchasing power.<\/p>\n
\u201cAll this led to economic activity slowing down pretty rapidly in Europe, and then pretty rapidly elsewhere. We\u2019ve now got record-high inflation. And the number-one way governments and financial institutions address inflation is by increasing central bank rates.\u201d<\/p>\n
The upshot for the industry, he said, is that consumers have less to spend on things that are moved by air.<\/p>\n
While the slowing economy is impacting demand, staff shortages across the entire aviation space have emerged as a pressing issue, stressed Hughes.<\/p>\n