Air Cargo Demand Shows Resilience in August
Source: IATA The International Air Transport Association (IATA) released August 2022 data for global air cargo markets which demonstrated the industry’s resilience amid economic uncertainties. Global demand, measured in cargo tonne-kilometers (CTKs*), fell 8.3% compared to August 2021 (-9.3% for international operations). This was a slight improvement on the year-on-year decline of 9.7% seen in July. Capacity was 6.3% above August 2021 (+6.1% for international operations). This is a significant expansion over the 3.6% year-on-year increase in July. Several factors should be noted in the operating environment: Global goods trade expanded slightly in August and the additional easing of COVID-19 restrictions in China will positively impact cargo markets. While maritime will be the main beneficiary, air cargo will also receive [...]