Search QatarPRNetwork.com

Home >> Travel, Tourism, Airline and Hotel

Air Cargo Makes a Soft Start to 2023

Wednesday, March 8, 2023/ Editor -  

Share

Home >> Travel, Tourism, Airline and Hotel
08 March 2023:  The International Air Transport Association (IATA) released data for January 2023 global air cargo markets showing that air cargo demand declined as economic headwinds persist. 
 
• Global demand, measured in cargo tonne-kilometers (CTKs*), fell 14.9% compared to January 2022 (-16.2% for international operations). 
• Capacity (measured in available cargo tonne-kilometers, ACTK) was up 3.9% compared to January 2022. This was the first year-on-year growth in capacity since October 2022. International cargo capacity increased 1.4% compared to January 2022. The uptick in ACTKs reflects the strong recovery of belly capacity in passenger airline markets offsetting a decline international capacity offered by dedicated freighters. 
• Several factors in the operating environment should be noted:
 
o The global new export orders component of the manufacturing PMI, a leading indicator of cargo demand, increased in January for the first time since October 2022. For major economies, new export orders are growing, and in China and the US, PMI levels are close to the critical 50-mark indicating that demand for manufactured goods from the world’s two largest economies is stabilizing.
 
o Global goods trade decreased by 3.0% in December, this was the second monthly decline in a row. 
 
o The Consumer Price Index for G7 countries decreased from 7.4% in November to 6.7% in January. Inflation in producer (input) prices reduced by 2.2 percentage points to 9.6% in December. 
 
”With January cargo demand down 14.9% and capacity up 3.9%, 2023 began under some challenging business conditions. That was accompanied by persistent uncertainties, including war in Ukraine, inflation, and labor shortages. But there is solid ground for some cautious optimism about air cargo. Yields remain higher than pre-pandemic. And China’s much faster than expected shift from its zero COVID policy is stabilizing production conditions in air cargo’s largest source market. That will give a much-needed demand boost as companies increase their engagement with China,” said Willie Walsh, IATA’s Director General.
 
January Regional Performance
 
Asia-Pacific airlines saw their air cargo volumes decrease by 19% in January 2023 compared to the same month in 2022. This was an improvement in performance compared to December (-21.2%).  Airlines in the region continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to the residual effects of COVID restrictions that were imposed by China. Additionally, the positioning of the Lunar New Year would have impacted cargo volumes in January. Available capacity in the region increased by 8.8% compared to January 2022. 
 
North American carriers posted an 8.7% decrease in cargo volumes in January 2023 compared to the same month in 2022. This was a slight decrease in performance compared to December (-8.5%).  Capacity increased 2.3% compared to January 2022.
European carriers saw the weakest performance of all regions with a 20.4% decrease in cargo volumes in January 2023 compared to the same month in 2022. This was a decrease in performance compared to December (-19.4%). Airlines in the region continue to be most affected by the war in Ukraine. Capacity decreased 9.3% in January 2023 compared to January 2022.
Middle Eastern carriers experienced a 11.8% year-on-year decrease in cargo volumes in January 2023. This was an improvement to the previous month (-14.4%). Capacity increased 9.6% compared to January 2022. 
Latin American carriers reported a 4.6% increase in cargo volumes in January 2023 compared to January 2022. This was the strongest performance of all regions, and a significant improvement in performance compared to December which saw no growth. Capacity in January was up 34.4% compared to the same month in 2022.  
African airlines saw cargo volumes decrease by 9.5% in January 2023 compared to January 2022. This was an improvement in performance compared to the previous month (-10%). Capacity was 1.8% below January 2022 levels. 

Previous in Travel, Tourism, Airline and Hotel

Next in Travel, Tourism, Airline and Hotel


Home >> Travel, Tourism, Airline and Hotel Section

Latest Press Release

Discover the Oris Doha Limited Edition

Under the patronage of Qatar's Prime Minister and Minister of Foreign Affairs, H ...

Dukhan Bank reports a net profit of QAR 1.14 billion for the nine-month period ...

Cityscape Qatar 2024 Witnesses the Participation of High-Level Government Delega ...

JMJ Group Holding at Cityscape Qatar: ‘SLS Doha The Grove Residences' designed b ...

Fairmont doha hosts intimate breast cancer awareness gathering featuring special ...

Saab at Milipol Qatar 2024

GWC Supports Qatar Billiard Sports Federation

H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani inaugurates Big 5 ...

Cityscape Qatar Day 1 Concludes: A New Era of Urban Development Begins

Dallah Holding Media Leads the Phygital Movement as Official WPC Member in Qatar

Zulal wellness resort by chiva-som welcomes holistic bodywork and massage visit ...

Cityscape Qatar 2024 and Qatar Real Estate Forum to commence this Sunday

Etihad Rail and Emerge Sign Landmark Solar Power Deal at Global Rail 2024

VFS Global wins Hungary visa services contract in nine additional countries acro ...

JMJ Group Holding Set to Unveil an Exclusive Real Estate Development project at ...

Qatar travel mart 2024 set to break records with expanded scope and participatio ...

Zulal wellness resort by chiva-som shares insights on everyday lifestyle changes ...

Carnegie Mellon hosts largest QCPC in event history

WFP Alarmed at Spreading Regional Displacement Crises in Middle East