IATA reports weak global air cargo condition in May 2023

The global air cargo demand fell 5.2% compared to May 2022 according to the data released by the International Air Transport Association (IATA). The complete air cargo report for May 2023 reflects a weak cargo condition. The cargo capacity as measured by available cargo tonne-kilometers (ACTKs), rose 14.5% compared to May 2022, primarily driven by belly capacity which increased as demand in the passenger business recovers. The report also shows decrease in global goods trade by 0.8% in April due to macroeconomic challenges and supply chain constraints. “Trading conditions for air cargo continue to be challenging with a 5.2% fall