IATA: May air cargo buoyed by easing of China Omicron restrictions

The International Air Transport Association’s (IATA) May 2022 data for global air cargo markets showed that the easing of Omicron restrictions in China helped to alleviate supply chain constraints and contributed a performance improvement in May. Global demand, measured in cargo tonne-kilometers (CTKs), was 8.3% below May 2021 levels (-8.1% for international operations). This was an improvement on the year-on-year decline of 9.1% seen in April. Capacity was 2.7% above May 2021 (+5.7% for international operations). This more than offset the 0.7% year-on-year drop in April. Capacity expanded in all regions with Asia-Pacific experiencing the largest growth. Trade activity ramped-up