News
Global air cargo market resilient despite economic uncertainties: industry update
December 1st 2022
The International Air Transport Association (IATA) said cargo tonne kilometres (CTK), a measure of demand, declined 13.6% in October compared with the same month a year ago. Read More » Available CTKs (ACTK) also were down, by 0.6%, against October 2021. IATA director general, Willie Walsh, said the air freight market is forecast to receive its traditional peak season boost despite economic uncertainties. “Air cargo continues to demonstrate resilience as headwinds persist,” Walsh said. “But as 2022 closes out, it appears the current economic uncertainties will flow into the New Year and need monitoring.” Asia-Pacific airlines posted a 14.7% decline in CTKs for the month, IATA said, with capacity reduced by 2.8%. The region’s carriers continue to be impacted by Russia's invasion of Ukraine and lower levels of trade and manufacturing due to Omicron-related restrictions in China, the IATA monitor said.
