African airlines saw cargo volumes decrease by 8.3 per cent in October 2022 compared to October 2021. This was a significant decrease in the growth recorded the previous month (0.1%). Capacity was 7.4 per cent below October 2021 levels.
This was revealed by the International Air Transport Association (IATA) in its released data for October 2022 global air cargo markets showing that headwinds continue to affect air cargo demand.
According to the clearing house for global airlines, Global demand, measured in cargo tonne-kilometers, fell 13.6 per cent compared to October 2021 (-13.5% for international operations).
Capacity was 0.6 per cent below October 2021. This was the first year-on-year contraction since April 2022, however, monthon- month capacity increased by 2.4 per cent in preparation for the year-end peak season. International cargo capacity grew 2.4 per cent compared to October 2021.
“Air cargo continues to demonstrate resilience as headwinds persist. Cargo demand in October — while tracking below the exceptional performance of October 2021– saw a 3.5 per cent increase in demand compared to September. “This indicates that the year-end will still bring a traditional peak-season boost despite economic uncertainties.
But as 2022 closes out it appears that the current economic uncertainties will follow into the New Year and need continued close monitoring,” said Willie Walsh, IATA’s Director-General.
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