Air cargo sees 5% decline in global tonnages for 2023

Global air cargo tonnages for the full year of 2023 were 5% lower than in 2022. Air cargo numbers have yet to see a significant uplift from the recent disruptions to container shipping in the Red Sea. However, there is likely to be some conversion of sea freight to air freight in the coming weeks if the disruptions continue, according to WorldACD market data. Contrasted against the preceding fortnight, weeks 51 and 52 of 2023 saw overall tonnages decrease by 17% and overall global average rates down 7%, with capacity down 3%. While volumes went down significantly across all regions,