The International Air Transport Association (IATA) released data for September 2022 global air cargo markets showing that air cargo demand had softened. IATA reported that the global demand fell 10.6% compared to September 2021 but continued to track at near pre-pandemic levels (-3.6%).
Willie Walsh, IATA’s Director General said: “While air cargo’s activity continues to track near to 2019 levels, volumes remain below 2021’s exceptional performance as the industry faces some headwinds. At the consumer level, with travel restrictions lifting post-pandemic, people are likely to spend more on vacation travel and less on e-commerce.”
For international operations, the air cargo capacity was above 2.4% as compared to September 2021 but 7.4% below September 2019 levels.
“At the macro-level, increasing recession warnings are likely to have a negative impact on the global flows of goods and services, balanced slightly by stabilization of oil prices. Against this backdrop, air cargo is bearing up well. And a strategic slow-down in capacity growth from 6.3% in August to 2.4% in September demonstrates the flexibility the industry has in adjusting to economic developments,” Walsh concluded.