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Asia-Pacific cargo capacity heavily constrained: IATA report
March 10th 2022
Cargo traffic at Asia-Pacific carriers, measured by cargo tonne kilometres (CTK), rose 4.9% in January compared with the same month in 2021, figures released overnight by the International Air Transport Association (IATA) show. Read More » The numbers were below the 12% increase reported in December. IATA said available cargo tonne kilometres remained "heavily constrained" in January and were down 15.4% compared with pre-COVID-19 levels. "The zero-COVID policy in mainland China and Hong Kong is impacting performance," IATA said. "Preparations for the Lunar New Year holiday also may have had an impact on volumes, but it is difficult to isolate." IATA director general, Willie Walsh, said cargo markets were expected to be impacted by Russia's invasion of Ukraine. "Sanction related shifts in manufacturing and economic activity, rising oil prices and geopolitical uncertainty are converging," Walsh said. "Capacity is predicted to come under greater pressure and rates are likely to rise. To what extent, however, it is still too early to predict."
