Headwinds Continue to Affect Air Cargo Demand in October
Source: IATA The International Air Transport Association (IATA) released data for October 2022 global air cargo markets showing that headwinds continue to affect air cargo demand. Global demand, measured in cargo tonne-kilometers (CTKs*), fell 13.6% compared to October 2021 (-13.5% for international operations). Capacity was 0.6% below October 2021. This was the first year-on-year contraction since April 2022, however, month-on-month capacity increased by 2.4% in preparation for the year-end peak season. International cargo capacity grew 2.4% compared to October 2021. Several factors in the operating environment should be noted: New export orders, a leading indicator of cargo demand, are shrinking in all markets except China and South Korea, which registered slightly higher new export orders in October. Latest global goods [...]