Iata data show weak market conditions
The international air transport association (Iata) released its data survey on global air cargo markets for May 2023, showing weak market conditions.
Global demand, measured in cargo tonne-kilometres (ctk), fell 5.2% compared to May 2022 (-6.0% for international operations).
Capacity, as measured by available cargo tonne-kilometres (actk), rose 14.5% compared to May 2022, primarily driven by belly capacity which increases as demand in the passenger business recovers. Capacity is now 5.9% above May 2019 (pre-pandemic) levels.
“Trading conditions for air cargo continue to be challenging with a 5.2% fall in demand and several economic indicators pointing towards weakness. The second half of the year, however, should bring some improvements. As inflation moderates in many markets, it is widely expected that central bank rate hikes will taper. This should help stimulate economic activity with a positive impact on demand for air cargo,” said Willie Walsh, Iata’s director general. (cj)