Global air cargo demand records resilience in August

Α Decrease font Enlarge font
Global air cargo demand records resilience in AugustAugust 2022 data for global air cargo markets demonstrated the industry’s resilience amid economic uncertainties

The International Air Transport Association (IATA) released August 2022 data for global air cargo markets which demonstrated the industry’s resilience amid economic uncertainties.

Global demand, measured in cargo tonne-kilometers (CTKs*), fell 8.3% compared to August 2021 (-9.3% for international operations). This was a slight improvement on the year-on-year decline of 9.7% seen in July.

Capacity was 6.3% above August 2021 (+6.1% for international operations). This is a significant expansion over the 3.6% year-on-year increase in July.
Several factors should be noted in the operating environment:
Global goods trade expanded slightly in August and the additional easing of COVID-19 restrictions in China will positively impact cargo markets. While maritime will be the main beneficiary, air cargo will also receive a boost from these developments.
Inflation levels in G7 countries slowed for the first time since November 2020.  
Oil prices stabilized in August and the jet fuel crack spread fell from a peak in June.
New export orders, a leading indicator of cargo demand and world trade, decreased in leading economies in all regions except the US.
“Air cargo continues to demonstrate resilience. Cargo volumes, while tracking below the exceptional performance of 2021, have been relatively stable in the face of economic uncertainties and geopolitical conflicts. Market signals remain mixed. August presented several indicators with upside potential: oil prices stabilized, inflation slowed and there was a slight expansion in goods traded globally. But the decrease in new export orders in all markets except the US tells us that developments in the months ahead will need to be watched carefully,” said Willie Walsh, IATA’s Director General.

AIR CARGO MARKET DETAIL-AUGUST 2022 WORLD SHARE​1 CTK ACTK CLF(%-PT)​2 CLF(LEVEL)​3
Total Market
100%
-8.3%
6.3%
-7.5%
46.7%
Africa
1.9%
1.0%
-1.4%
1.0%
41.8%
Asia Pacific
32.6%
-8.3%
13.9%
-13.2%
54.7%
Europe
22.8%
-15.1%
0.4%
-9.2%
50.2%
Latin America
2.2%
   9.0%
24.3%
-5.2%
37.4%
Middle East
13.4%
-11.3%
-0.1%
-5.9%
46.6%
North America
27.2%
-3.4%
5.7%
-3.7%
39.3%

1) % of industry RPKs in 2021    2) Year-on-year change in load factor    3) Load Factor Level 

August Regional Performance

Asia-Pacific airlines saw their air cargo volumes decrease by 8.3% in August 2022 compared to the same month in 2021. This was an improvement over the 9.0% decline in July. Airlines in the region benefited from slightly increased levels of trade and manufacturing activity due to the easing of COVID-19 restrictions in China. Available capacity in the region increased 13.9% compared to August 2021, a significant increase over the 2.7% growth in July.

North American carriers posted a 3.4% decrease in cargo volumes in August 2022 compared to the same month in 2021. This was an improvement over the 5.7% decline in July.  The lifting of restrictions in China improved demand and a further boost is expected in the coming months. Capacity was up 5.7% compared to August 2021.

European carriers saw a 15.1% decrease in cargo volumes in August 2022 compared to the same month in 2021. This was the worst performance of all regions for the fourth month in a row. This is attributable to the war in Ukraine. Labor shortages and high inflation levels, most notably in Turkey, also affected volumes. Capacity increased by 0.4% in August 2022 compared to August 2021. 

Middle Eastern carriers experienced an 11.3% year-on-year decrease in cargo volumes in August. Stagnant cargo volumes to/from Europe impacted the region’s performance. Capacity was down 0.1% compared to August 2021.

Latin American carriers reported an increase of 9.0% in cargo volumes in August 2022 compared to August 2021. This was the strongest performance of all regions. Airlines in this region have shown optimism by introducing new services and capacity, and in some cases investing in additional aircraft for air cargo in the coming months. Capacity in August was up 24.3% compared to the same month in 2021. 

African airlines saw cargo volumes increase by 1.0% in August 2022 compared to August 2021. This was a significant improvement in growth recorded the previous month (-3.5%). Capacity was 1.4% below the August 2021 levels.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Dtom

Tornos
  1. 19/04 01:29

    Athens State Orchestra presents 'St. Matthew's Passion' by Bach on April 30th

  2. 18/04 21:49

    Greek Climate Change Minister signs memorandum for Attica fire protection zones

  3. 18/04 20:32

    'Easter Basket' and 'Godparents basket' to be put into effect next week in Greece

  4. 18/04 20:17

    American Hellenic Institute celebrates 50th anniversary

  5. 18/04 17:40

    Reuters report: Greek economy soars after decade of pain

  6. 17/04 21:06

    Thessaloniki Port: Performance growth for 2023 with record container throughput

  7. 17/04 20:57

    Traffic regulations imposed in Athens for the 41st Peace Marathon on Sunday

  8. 17/04 20:52

    LAMDA Development malls and marinas reach new record high

  9. 17/04 18:15

    Greek Foreign Minister addresses the 9th Our Ocean Conference in Athens

  10. 17/04 17:12

    IMF: Drop of Greek public debt to 158.8% of GDP in 2024

  11. 16/04 21:02

    NHM hosts the Trial of Pericles at the Harris Theater in Chicago on April 17

  12. 16/04 20:17

    Greece will invest $830 million to protect marine biodiversity

  13. 16/04 01:46

    New York Greek Independence Parade honors 1821 and solemn Cyprus Anniversary

  14. 16/04 01:35

    Olympic Games Paris 2024: Olympic Flame to be lit at Ancient Olympia in Greece

  15. 16/04 00:29

    European Committee of Regions and UN release study on Rural Tourism

  16. 15/04 20:41

    No Athens Metro on Wednesday

  17. 15/04 19:58

    Minister: Greece is transforming into a hub for exporting quality agri-food products

  18. 15/04 18:51

    Greek Environment Minister meets Chinese Deputy Minister of Natural Resources

  19. 13/04 00:13

    UN Tourism and Croatia to launch Research Centre for Sustainable Tourism

  20. 12/04 00:03

    2024 marks a critical year in the enduring strength of Greek-German relations

  21. 12/04 00:00

    Greek Rural Development Minister in Italy for wine meeting

  22. 11/04 22:07

    Ambassador: US committed to upgrade of Greek military and support NATO's SE flank

  23. 11/04 19:40

    Hellenic Pride on display at rainy Chicago Greek Independence Day Parade

  24. 11/04 02:06

    Delphi Economic Forum IX: Energy collaboration a 'key' in Greek-Bulgarian relations

  25. 11/04 01:58

    UN Tourism launches investment guidelines for Albania sector

  26. 10/04 19:01

    Greek FinMin: New package of economic measures in 2025 to lower taxes, raise pensions

  27. 10/04 18:25

    Greek city of Nafplion hosts Mediterranean Yacht Show for ninth year running

  28. 09/04 23:57

    Greek PM on Tilos: Innovative projects for a cyclical economy are of key significance

  29. 09/04 23:55

    UN Tourism members promote agenda for Europe as region leads global recovery

  30. 09/04 23:46

    HFS presents 1968, Rousing Docudrama about Greece’s First European Cup April 21

  31. 09/04 22:48

    Stolen 7th-century BC oenochoe returned to Greece by Hanover museum, municipality

  32. 09/04 22:42

    Greek civil servants confederation ADEDY to strike on May 21

  33. 09/04 21:55

    Greek Migration Minister meets Senior US Coordinator for Lawful Migration

  34. 08/04 23:48

    Athens-Epidaurus Festival to kick off on June 1

  35. 08/04 23:41

    Elliniko-Argyroupoli Mayor marches in Greek Independence Philadelphia Parade

  36. 08/04 21:53

    Project Voria casino complex in Maroussi moving ahead after environmental report

  37. 08/04 21:36

    Minister: Up to 120 delegations to take part in 9th Our Ocean Conference in Athens

  38. 08/04 19:22

    Direct flight from Shanghai to Athens offers access to key tourism market for Greece

  39. 08/04 18:31

    AI conference to attract distinguished speakers to Thessaloniki on April 25-27

  40. 04/04 23:28

    City of San Jose marks March 25 with 16th Annual Greek Flag Raising Event

  41. 04/04 22:16

    Urban plans published for seven townships in Thessaloniki and Attica of Greece

  42. 04/04 17:24

    FinMin: The new EU economic and fiscal framework is good for Greece

  43. 04/04 15:30

    Greek PM meets with the chiefs of the international pharmaceutical manufacturers

  44. 04/04 00:15

    Deputy Minister for Macedonia-Thrace meets US Embassy Deputy Mission Chief

  45. 03/04 20:12

    Syracuse AHEPA Chapter 37 marks March 25th Greek Independence Day

  46. 03/04 18:10

    Greece's Delphi Economic Forum on April 10-13 to focus on 'The Great Transition'

  47. 03/04 16:42

    Minister: Industrial production has returned to the pre-crisis levels in Greece

  48. 02/04 18:06

    Athens-Epidaurus Festival to kick off on June 1

  49. 30/03 23:21

    Eleni Gatzoyiannis scholarship offered to Greek students at Boston University

  50. 29/03 16:44

    3rd edition of 'This is Athens - City Festival' with 250+ events from May 1 until June 2

  51. 29/03 15:53

    Athens Metro station Aghia Varvara to stay closed on Saturday and Sunday

  52. 29/03 13:55

    Greek Foreign Minister for Economic Diplomacy concludes visit to Montenegro

  53. 29/03 12:00

    Greek PM announces minimum wage hike to 830 euros per month

  54. 29/03 11:51

    Clocks to go forward one hour in Greece on Sunday

  55. 28/03 18:41

    Attica Region to channel 640 bln euros to services of vulnerable and disadvantaged groups

  56. 28/03 17:32

    Greece to auction three-month T-bills on April 3, 2024 in a book entry form

  57. 28/03 15:46

    Greece's Meteora Pyli Geopark added to UNESCO Global Geoparks network

  58. 28/03 14:44

    IPTO announces framework agreement tender for undersea power cables in Greece

  59. 28/03 11:49

    IOBE: Construction sector in Greece records robust growth and good prospects

  60. 26/03 23:51

    St. Thomas Hellenic School honors 1821 and the Feast of the Annunciation in NJ

  61. 26/03 21:59

    PM at Economic Club of Canada: Greece is an attractive investment destination

  62. 26/03 17:56

    Greek State budget primary balance reaches a surplus of 3,378 million euros

  63. 26/03 11:45

    Ancient Messene to get upgraded visitors' facilities after approval by Council

  64. 23/03 17:43

    New requirements for 'Golden Visa' program to kick in on March 31

  65. 23/03 16:49

    Athenians continue to head out of the Greek Capital for March 25 long weekend

  66. 23/03 16:47

    Greek Parliament lights to be turned off for Earth Hour 8:30-9:30 pm

  67. 22/03 21:54

    US President on Greek Independence Day: Alliance with Greece stronger than ever

  68. 22/03 19:51

    High diplomacy and geopolitics at Delphi Economic Forum IX in Greece

  69. 22/03 19:32

    Tax authorities enable payments with foreign bank cards in Greece

  70. 22/03 14:19

    Greece to take part in Earth Hour on Saturday

  71. 22/03 00:24

    Greece ranks first on list of countries with fastest business environment progress

  72. 22/03 00:02

    Hellenic Police acquires first electric VAN-type highway patrol vehicle

  73. 21/03 22:41

    Greek Finance Ministry tightens Golden Visa rules

  74. 21/03 15:33

    Unseen Museum presents "The stele of the twin babies" exhibition in Athens

  75. 20/03 22:48

    Health Minister: 95% of Greek hospitals to perform afternoon surgeries

  76. 20/03 21:52

    Greek Deputy Minister of Justice meets delegation from US Embassy in Athens

  77. 20/03 21:44

    Greek Interior Minister to visit United States and Canada on postal vote

  78. 20/03 20:55

    Philadelphia Icarians mark 85th Anniversary and organize Apokriatiko Dance

  79. 20/03 18:01

    Development Minister: We continue the battle against high prices in Greece

  80. 19/03 22:28

    President of the Hellenic Republic meets her Ethiopian counterpart in Athens

  81. 19/03 20:57

    Greek Tourism Minιster meets Hellenic Chamber of Hotels

  82. 19/03 20:25

    FinMIn: Moody’s analysis records significant progress in the Greek economy

  83. 19/03 11:15

    Sector chiefs report: Good news for Greek tourism in 2024 at ITB Berlin

  84. 18/03 22:20

    American Hellenic Educational Progressive Association honors Past Supreme President

  85. 16/03 13:01

    Greek Deputy Foreign Μinister meets her Slovenian counterpart in Athens

  86. 16/03 12:56

    Greek-Canadian Diaspora to welcome Greek Prime Minister to Toronto

  87. 16/03 11:28

    Greek Migration Minister visits refugee hosting facilities in Kavala, Drama and Serres

  88. 15/03 21:50

    Greek Minister announces conference on defence ecosystem in Athens from Lithuania

  89. 15/03 13:45

    PM: More than 80 hospitals and 156 health centres being upgraded in Greece

  90. 15/03 12:55

    Piraeus Port and Genoa Chambers of Commerce ink memorandum of cooperation

  91. 14/03 23:43

    President of Hellenic Republic meets Prime Minister of Slovakia in Bratislava

  92. 14/03 22:58

    American Express report highlights Global Travel Trends during 2024

  93. 14/03 22:52

    Four hospitals in Attica Region already organizing afternoon surgical procedures

  94. 14/03 22:49

    US Ambassador to Athens: More flights from the United States to Greece and Thessaloniki

  95. 14/03 22:43

    Greek archaeologists discover ten ancient shipwrecks off Aegean island of Kasos

  96. 14/03 19:32

    No new intubations for Covid-19 recorded in Greece for the first time

  97. 14/03 18:36

    Extra road safety measures adopted for Greek pre-lent carnival and Clean Monday

  98. 14/03 14:48

    HRADF eyes bidders for Lavrio Port majority share

  99. 14/03 12:54

    Electric buses to be deployed on the streets of Athens and Thessaloniki by May

  100. 13/03 22:23

    Chairman: 2023 was an exceptional one for AEGEAN Airlines