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Drop in cargo demand reports International Air Transport Association
May 4th 2022
International Air Transport Association (IATA) director general, Willie Walsh, said overnight the air cargo market was impacted in March by Russia's invasion of Ukraine and the Omicron variant of COVID-19. Read More » “Air cargo markets mirror global economic developments," Walsh said. "In March, the trading environment took a turn for the worse. The combination of the war in Ukraine and the spread of the Omicron variant in Asia led to rising energy costs, exacerbated supply chain disruptions and fed inflationary pressure. As a result, compared with a year ago, fewer goods were shipped, including by air," Walsh said. IATA reported demand, or cargo tonne kilometres (CTK), fell 5.2% in March against the same month in 2021. Capacity, measured by available cargo tonne kilometres (ACTK), was up 1.2% for the 31 days, well below the 11.2% year-on-year improvement in February.
