Air cargo activity showed signs of recovery in February, according to data released by the International Air Transport Association (IATA). According to the organisation, demand rose above pre-pandemic levels during the second month of the year.
See also: IATA: Air cargo continues to slow in January
Air cargo demand grows again
Global demand, measured in cargo tonne-kilometers (CTK), fell by 7.5% compared to February 2022. In international operations, the decline was 8.3%. These figures represent a slower rate of decline than that seen in the previous two months, when the drop reached 14.9% and 15.3% year-on-year.
Air cargo demand in February was 2.9% above that recorded in the same month of 2019, the last full year prior to the start of the pandemic. It thus exceeded pre-crisis levels for the first time in eight months.
Capacity, measured in available cargo tonne-kilometers (ACTK), grew by 8.6% compared to February 2022. International cargo capacity in passenger aircraft holds grew 57% year-on-year and reached 75.1% of capacity in the same month of 2019.
«An optimistic eye could see the start of an improvement trend that leads to market stabilization and a return to more normal demand patterns after dramatic ups-and-downs in recent years», said Willie Walsh, IATA’s Director General.
Air cargo in each region during February 2023
- Airlines from Asia-Pacific: cargo volumes down 6% compared to February 2022. Carriers in the region benefited from the removal of restrictions in China and available capacity grew by 19.9% year-on-year, in line with the increase in passenger capacity.
- Airlines from North America: down 3.2% from February 2022. The region experienced a significant increase in international demand in February, boosting its global market share in cargo traffic beyond pre-pandemic levels. Capacity increased by 2.8% year-on-year.
- Airlines from Europe: down 15.3% from February 2022, the worst performance among all regions. Although as in the rest of the world activity improved compared to January, the region’s carriers continued to be the most affected by the war in Ukraine. Capacity was down 1.5% year-on-year.
- Airlines from the Middle East: down 8.1% from February 2022. Capacity increased by 9.3% year-on-year.
- Airlines from Latin America: down 2.7% compared to February 2022. Capacity increased 27.6% year-on-year.
- Airlines from Africa: down 3.4% compared to February 2022. In particular, routes between Africa and Asia experienced significant growth in cargo demand in February, with a year-on-year increase of 39.5%. Capacity was 4.7% above the level of the same month in 2022.
