News
Improving air cargo market for May; monthly IATA monitor
July 11th 2022
The International Air Transport Association (IATA) said air cargo demand, measured by cargo tonne kilometres (CTK), fell away by 8.3% in May from a year earlier. Read More » But air freight capacity, or available cargo tonne kilometres (ACTK), rose 2.7% year-on-year. The two measures were an improvement from April when CTKs were down 9.1% and ACTKs fell 0.7%. IATA director general, Willie Walsh, said the easing of some Omicron restrictions in China supported the air cargo market for the reported month. “The return of Asian production as COVID-19 measures eased, particularly in China, will support demand for air cargo,” Walsh said. “And the strong rebound in passenger traffic has increased belly capacity, although not always in markets where the capacity crunch is most critical. But uncertainty about the overall economic situation will need to be carefully watched.” The airline lobby group said Asia-Pacific airlines reported a 6.6% drop in May CTKs compared with the same month in 2021. Capacity was down 7.4%. “Airlines in the region have been heavily impacted by lower trade and manufacturing activity due to Omicron-related lockdowns in China. However, this started to ease in May as restrictions were lifted,” IATA said.
