PRESS ROOM

The statistics show that airfreight demand in cargo tonne km terms (CTK) declined by 13.7% year on year in November.

The decline is the ninth demand decline in a row and reflects high inflation that is curtailing the spending capacity of households, the ongoing war in Ukraine disrupting trade flows, and the “unusual” strength of the US dollar making commodities traded in dollars more expensive in local currency terms.

“Air cargo performance softened in November, the traditional peak season,” said IATA director general Willie Walsh.

“November presented several indicators with upside potential: oil prices stabilised, inflation slowed and there was a slight expansion in goods traded globally. But shrinking export orders globally and China’s rising Covid cases are cause for careful monitoring.”

“Airlines in the region continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to China’s rising Covid cases,” IATA said.

European carriers noted a 16.5% decline in November.

“Airlines in the region continue to be most affected by the war in Ukraine. High inflation levels, most notably in Türkiye, also affected volumes.”

Latin American carriers registered the strongest performance of any region as demand increased by 2.8%. Finally, African airlines saw cargo volumes decrease by 6.3% in November.

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