The International Air Transport Association’s (IATA) has released latest analysis of demand for air cargo transport globally and by region -showing that although there has been depression in volumes due to the on-going war in Ukraine, African airlines -saw cargo volumes increase by 3.1% in March 2022 compared to March 2021. Their cargo carrying capacity was 8.7% above March 2021 levels.
IATA says that global demand, measured in cargo tonne-kilometers (CTKs), fell by 5.2% compared to March 2021 5.4% for international operations. Air cargo capacity was 1.2% above March 2021 (2.6% for international operations). While this is in positive territory, it is a significant decline from the 11.2% year-on-year increase in February. Asia and Europe experienced the largest falls in capacity.
IATA attributed these hlobal trends to several factors in the operating environment which include among others the war in Ukraine that has led to a fall in cargo capacity used to serve Europe. A number of airlines based in Russia and Ukraine were key cargo players.
‘Sanctions against Russia led to disruptions in manufacturing. And rising oil prices are having a negative economic impact, including raising costs for shipping. New export orders, a leading indicator of cargo demand, are now shrinking in all markets except the US. The Purchasing Managers’ Index (PMI) indicator tracking global new export orders fell to 48.2 in March. This was the lowest since July 2020,” iATA stated .