News
Global air cargo demand continues to decline in May
July 7th 2023
The International Air Transport Association (IATA) said cargo tonne kilometres (CTK), a measure of demand, were lower by 5.2% in May compared with the same month in 2022. Read More » The latest update continues the sector’s year-on-year decline that began in March last year. May CTKs were 93% of pre-pandemic May 2019, the airline lobby group said. Capacity, or available cargo tonne kilometres (ACTK), was 105.9% of pre-COVID-19 May 2019 as the air passenger recovery injected belly capacity into the market. “Trading conditions for air cargo continue to be challenging,” IATA director general, Willie Walsh said. “The second half of the year, however, should bring some improvement.” The forecast moderation in inflation is expected to lead to a tapering of interest rate rises, he said. “This should help stimulate economic activity with a positive impact on demand for air cargo,” Walsh forecast.
