Hope and disruption at the end of 2023
According to recent data published the International Air Transport Association (Iata), global full-year demand in 2023, measured in cargo tonne-kilometres (CTKs), was down 1.9% (-3.6 compared to 2019). But December 2023 saw an exceptionally strong performance with the global demand 10.8% above 2022 levels. This was the strongest annual growth performance over the past two years.
Director general Willie Walsh: "Despite political and economic challenges, 2023 saw air cargo markets regain ground lost in 2022 after the extraordinary Covid peak in 2021. Although full year demand was shy of pre-Covid levels by 3.6%, the significant strengthening in the last quarter is a sign that markets are stabilising towards more normal demand patterns."
The last two months witnessed a 1% increase in global air cargo demand coupled with a 5% rise in yields due to disruptions in the Red Sea. (ah)