IATA. May air cargo buoyed by easing of Omicron restrictions in China
The performance are impacted by several factors
The International Air Transport Association (IATA) released May 2022 data for global air cargo markets showing that the easing of Omicron restrictions in China helped to alleviate supply chain constraints and contributed a performance improvement in May.
Global demand, measured in cargo tonne-kilometers (CTKs), was 8.3% below May 2021 levels (-8.1% for international operations). This was an improvement on the year-on-year decline of 9.1% seen in April.
Capacity was 2.7% above May 2021 (+5.7% for international operations). This more than offset the 0.7% year-on-year drop in April. Capacity expanded in all regions with Asia-Pacific experiencing the largest growth.
Air cargo performance is being impacted by several factors.
Trade activity ramped-up slightly in May as lockdowns in China due to Omicron were eased. Emerging regions also contributed to growth with stronger volumes.
New export orders, a leading indicator of cargo demand and world trade, decreased in all markets, except China.
The war in Ukraine continues to impair cargo capacity used to serve Europe as several airlines based in Russia and Ukraine were key cargo players.
AVIONEWS - World Aeronautical Press Agency