Demand For Global Air Cargo Down By 13.6% In October - IATA

Fahad Shabbir (@FahadShabbir) Published November 30, 2022 | 07:05 PM

Demand for global air cargo contracted by 13.6% in October compared to the same month last year and by 6.2% from same period in 2019, the International Air Transport Association (IATA) said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 30th November, 2022) Demand for global air cargo contracted by 13.6% in October compared to the same month last year and by 6.2% from same period in 2019, the International Air Transport Association (IATA) said on Wednesday.

The biggest drop in demand measured in cargo tonne-kilometers was seen in European countries - 18,8%, the middle East - 15% and Asia Pacific -14.7%, according to a statement released by the IATA.

At the same time, air cargo demand increased slightly in October compared to the previous month, the statement said.

"Air cargo continues to demonstrate resilience as headwinds persist.

Cargo demand in October... saw a 3.5% increase in demand compared to September. This indicates that the year-end will still bring a traditional peak-season boost despite economic uncertainties," IATA Director General Willie Walsh said.

According to Walsh, economic uncertainties will follow into 2023 and need further close monitoring.

Conflict in Ukraine, strict coronavirus lockdown measures in China, and high inflation rates worldwide are among key factors pushing demand down, according to the IATA.