Global air cargo demand rises above pre-pandemic levels for first time in 8 months as decline slows

GLOBAL demand for air cargo in February surpassed pre-pandemic levels for the first time in eight months, according to data released Tuesday (Apr 4) by the International Air Transport Association (Iata).

Global air cargo demand, measured in cargo tonne-kilometres (CTK), was 2.9 per cent higher than February 2019, before the Covid-19 pandemic.

However, demand continued to show a year-on-year decline, with CTKs falling 7.5 per cent compared to February 2022.

Iata noted that this was half the rate of annual decline seen in the previous two months, which clocked at -14.9 per cent and -15.3 per cent, respectively.

”The story of air cargo in February is one of slowing declines,” said Iata director general Willie Walsh.

“An optimistic eye could see the start of an improvement trend that leads to market stabilisation and a return to more normal demand patterns after dramatic ups-and-downs in recent years,” he added.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign Up

Sign Up

Meanwhile, cargo capacity – measured in available cargo tonne-kilometres – was up 8.6 per cent compared to February 2022.

Iata said the strong uptick reflects the addition of belly capacity as the passenger side of the business continues to recover.

Asia-Pacific airlines saw their air cargo volumes decrease by 6 per cent in February, improving from the 19 per cent decline registered in January, while available capacity in the region increased by 19.9 per cent.

SEE ALSO

Global air cargo demand wanes in November as economic headwinds persist: Iata

Asia-Pacific tourism is on a long-haul flight to full recovery

“Airlines in the region benefited from China’s reopening, which resulted in the lifting of restrictions and resumption of economic activities,” Iata said.