Global demand, measured in cargo tonne-kilometers declined 5.2 per cent compared to May 2022 (-6.0% for global ops). IATA released the data for the month of May. Capacity, as measured by available cargo tonne-kilometers rose 14.5 per cent compared to May 2022, primarily driven by belly capacity which increases as demand in the passenger business recovers. Capacity is now 5.9 per cent above May 2019 (pre-pandemic) levels. “Trading conditions for air cargo continue to be challenging with a 5.2 per cent fall in demand and several economic indicators pointing towards weakness. The second half of the year, however, should bring some improvements. As inflation moderates in many markets, it is widely expected that central bank rate hikes will taper. This should help stimulate economic activity with a positive impact on demand for air cargo,” said Willie Walsh, IATA’s Director General.
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