IATA report: International air cargo records signs of improvement in February
The International Air Transport Association (IATA) released data for February 2023 on global air cargo markets showing that air cargo demand rose above pre-pandemic levels.
Global demand, measured in cargo tonne-kilometers (CTKs*), fell 7.5% compared to February 2022 (-8.3% for international operations). This was half the rate of annual decline seen in the previous two months (-14.9% and -15.3% respectively). February demand for air cargo was 2.9% higher than pre-pandemic levels (February 2019)—the first time it has surpassed pre-pandemic levels in eight months.
Capacity (measured in available cargo tonne-kilometers, ACTK) was up 8.6% compared to February 2022. The strong uptick in ACTKs reflects the addition of belly capacity as the passenger side of the business continues to recover. International belly capacity grew by 57.0% in February year-over-year, reaching 75.1% of the 2019 (pre-pandemic) capacity.
Several factors in the operating environment should be noted:
The global new export orders component of the manufacturing PMI, a leading indicator of cargo demand, continued to increase in February. China’s PMI level surpassed the critical 50-mark indicating that demand for manufactured goods from the world’s largest export economy is growing.
Global goods trade decreased by 1.5% in January; this was a slower rate of decline than the previous month of -3.3%.
The Consumer Price Index for G7 countries decreased from 6.7% in January to 6.4% in February. Inflation in producer (input) prices reduced by 2.2 percentage points to 9.6% in December (last available data).
”The story of air cargo in February is one of slowing declines. Year-on-year demand fell by 7.5%. That’s half the rate of decline experienced in January. This shifting of gears was sufficient to boost the overall industry into positive territory (+2.9%) compared to pre-pandemic levels. An optimistic eye could see the start of an improvement trend that leads to market stabilization and a return to more normal demand patterns after dramatic ups-and-downs in recent years,” said Willie Walsh, IATA’s Director General.
Air cargo market in detail
FEBRUARY 2023 (% YEAR ON YEAR) |
WORLD SHARE1 | CTK | ACTK | CLF(%-PT)2 | CLF(LEVEL)3 |
---|---|---|---|---|---|
Total Market |
100.0% |
-7.5% |
8.6% |
-7.9% |
45.6% |
Africa |
2.0% |
-3.4% |
4.7% |
-3.9% |
46.8% |
Asia Pacific |
32.4% |
-6.0% |
19.9% |
-12.8% |
46.4% |
Europe |
21.8% |
-15.3% |
-1.5% |
-9.4% |
57.4% |
Latin America |
2.7% |
-2.7% |
27.6% |
-11.2% |
36.1% |
Middle East |
13.0% |
-8.1% |
9.3% |
-8.4% |
44.5% |
North America |
28.1% |
-3.2% |
2.8% |
-2.5% |
40.0% |
1) % of industry CTKs in 2022 2) Year-on-year change in load factor 3) Load Factor Level
February Regional Performance
Asia-Pacific airlines saw their air cargo volumes decrease by 6.0% in February 2023 compared to the same month in 2022. This was a significant improvement in performance compared to January (-19.0%). Airlines in the region benefitted from China’s reopening, which saw restrictions lifted and economic activities resumed. Available capacity in the region increased by 19.9% compared to February 2022 as more and more belly capacity came online from the passenger side of the business.
North American carriers posted a 3.2% decrease in cargo volumes in February 2023 compared to the same month in 2022. This was a solid improvement in performance compared to January (-8.7%). Notably, the region saw a significant increase in international demand in February which boosted its market share in international cargo traffic to beyond pre-pandemic levels (21.7% in Feb 2023 versus 18.2% in Feb 2019). Capacity increased 2.8% compared to February 2022.
European carriers saw the weakest performance of all regions with a 15.3% decrease in cargo volumes in February 2023 compared to the same month in 2022. This was an improvement in performance compared to January (-20.4%). Airlines in the region continue to be most affected by the war in Ukraine. Capacity decreased 1.5% in February 2023 compared to February 2022.
Middle Eastern carriers experienced an 8.1% year-on-year decrease in cargo volumes in February 2023. This was a slight improvement to the previous month (-11.8%). Capacity increased 9.3% compared to February 2022.
Latin American carriers reported a 2.7% decrease in cargo volumes in February 2023 compared to February 2022. This was a drop in performance compared to January which saw a 4.6% increase. Capacity in February was up 27.6% compared to the same month in 2022.
African airlines saw cargo volumes decrease by 3.4% in February 2023 compared to February 2022. This was an improvement in performance compared to the previous month (-9.5%). Notably, the Africa to Asia route area experienced significant cargo demand growth in February, up 39.5% year-on-year. Capacity was 4.7% above February 2022 levels.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Dtom
22/04 19:08
The action of the region of Crete "Let's go for... Greens" concludes this weekend
22/04 15:15
“Art is our Language”: Campaign for the 70th Anniversary of the Athens Epidaurus Festival
22/04 15:02
22/04 14:20
ΕΟΤ China | B2B meetings with Chengdu's t.os - Flights to Athens in June
22/04 12:24
State-of-the-art conference center at Theartemis Palace Hotel in Rethymno
22/04 09:29
Zagori: Collaboration with Impact Hub Athens for sustainable tourism and innovation
22/04 07:55
Cooperation Memorandum between Development Athens and Piraeus University on Tourism
22/04 07:40
Kos: New advertising campaigns with Jet2 and National Geographic Traveller UK
22/04 07:36
22/04 06:48
Imbros Trail Run & Hike 2025: A sporting tribute to the History of Sfakia
22/04 06:44
21/04 20:52
Religious Tourism | The University of Palermo comes to Panagia Nafpaktiotissa
21/04 07:58
Audio Walk in the Sitia Geopark: A Different Exploration Experience in Crete
20/04 07:01
19/04 08:03
Juneyao Airlines: More direct flights from Shanghai to Athens in 2025
18/04 23:44
Alltours: Familiarization trip to Greece for 250 travel agents
18/04 19:45
Nations Cup Beach Volleyball is coming to TUI Magic Life Candia Maris on May 16-18
18/04 16:22
18/04 15:55
Traditional Easter in Naxos: Unique Customs and Local Cuisine
18/04 07:38
Annual revenue of over 43,000 euros for Airbnb in Mykonos and Santorini
17/04 18:16
Destination Management and Promotion Organization established in Heraklion
17/04 12:19
17/04 11:24
17/04 11:12
Athens is the new hotspot in Europe for hotel investments - the 8th most attractive city in 2025
17/04 10:28
Significant increase of over 18% in direct bookings at Greek hotels for Easter
17/04 08:33
Short-term rental: 1.15 million available nights in March in Greece
17/04 07:49
Accor's Handwritten Collection expands to Europe – The first Greek participation
17/04 07:46
Ithaca is ready to welcome its visitors for Easter and the summer season
17/04 07:38
Mirum Hellas: Donation of studies for the Agios Nikolaos Marina
17/04 06:59
CBRE Hotels | Why the value of hotels in Greece will continue to rise
17/04 06:54
Mykonos: Smiles for Easter, optimism for record arrivals in 2025
16/04 23:41
Promotion of Central Macedonia in Poland - direct flights to Thessaloniki begin
16/04 21:19
Hersonissos: 33,000 tourist beds in the “Pay As You Throw” system
16/04 21:07
16/04 16:29
Destination Management and Promotion Organization established in Rethymno
16/04 16:26
PPA | Series of upgrades to the infrastructure of the port of Piraeus
16/04 15:34
Wizz Air: Medical awareness campaign in view of increased Easter travel traffic
16/04 13:38
Expedia | Sports Tourism Accounts for 10% of Global Tourism Spend
16/04 11:59
American Tourism | + 38% travel costs to Europe in 2025 - Shift to more affordable destinations
16/04 11:48
Chania olive oil as a growth driver in the tourism economy of Crete
16/04 11:45
16/04 08:52
CHC Group: The Greek chain that brings Hilton to Elounda and Karpathos
16/04 08:05
The great restoration of the Venetian Wharfs of Chania begins
16/04 07:59
16/04 07:56
Koziakas Mountain Race 2025: The mountain challenge in Koziakas
15/04 17:27
Easter in Syros, Paros, Kimolos, and Alonissos | What the island authorities say to TN
15/04 16:36
Passenger traffic in Q1 | +9.1% at CAA airports, +6.5% in all
15/04 16:30
Investment interest in tourism remains stable internationally in the first quarter
15/04 15:40
Great Britain | Greece and the Greek National Tourist Office at Kuoni Road Show
15/04 15:23
What will our world be like in 2035? - Read what the participants at the Delphi Forum answered
15/04 14:45
Norwegian Cruise Line christens new ship - new attractions on private island
15/04 11:57
Dynamic presence of the Winemakers of Crete at the PROWEIN exhibition
15/04 11:53
Municipality of Sfakia: The Lykos - Marmara route is safer and more accessible again
15/04 08:02
Paros | Optimism for the new season - Bet on extending the season
15/04 07:07
Anopaia Atrapos: A mountain running race with a historical route and an athletic ethos
14/04 21:19
14/04 20:32
14/04 19:36
14/04 14:17
Workshop in Thessaloniki and Athens for cooperation between Greece and Turkey in tourism
14/04 13:39
Increase in visitor numbers and revenues to museums and archaeological sites in 2024
14/04 12:42
14/04 11:52
GNTO | Event for Aegean's new flights from Turkey to five Greek destinations
14/04 11:45
14/04 11:04
Mercan and Wyndham partner for Corfu Acharavi hotel in Corfu
14/04 08:09
March air traffic: Up on last year's March, which had Easter
14/04 07:10
Permits for 8 hotels in Thessaloniki, Crete, Kos, Corfu, Ouranoupoli, and Nafplio
14/04 07:04
13/04 13:15
TUI Musement | Skiathos, Kefalonia, Larnaca, and Troodos in top-7 destinations for tourists 65+
13/04 12:11
Mayor K. Ventouris on TN | Optimism for this year's tourist season in Kimolos
11/04 18:20
A. Fiorentinos at an Expedia event: Santorini is returning to normality
11/04 16:07
G. Hatzis: Trump tariffs could theoretically affect tourism from the US
11/04 12:23
Double international distinction for Paros by American Express Travel and Forbes
11/04 11:43
Crete: Pioneer for resilient tourism in the face of climate change
11/04 11:32
“Philoxenia Travel & Culture”: A Photographic Journey to Authentic Greece
11/04 11:28
11/04 08:51
Participation of the municipality of Erymanthos as a full member in the Network of Cities with Lakes
11/04 08:46
"Two destinations, one purpose": Promoting pilgrimage tourism in Lesvos and Chios
11/04 07:54
11/04 06:11
ForwardKeys | Heraklion and Thessaloniki among the top Easter destinations in Europe
10/04 16:15
N. Chalkiadakis on TN | Arrivals take off at the airport in Kastelli
10/04 12:56
WTTC: Global tourism to soar over the next 10 years - Contribution to $16.5 trillion in 2035
09/04 23:02
Digital tourism promotion for the Holy Shrine of Panagia Kastriani of Kea
09/04 22:08
International award for the Venetian Castle of Fortezza in Rethymno
09/04 19:45
09/04 19:13
Olga Kefalogianni: Authenticity, sustainability, and tourism 12 months a year
09/04 16:19
09/04 13:24
09/04 12:27
Pieria | POTAP - jet2 collaboration to open up the British market
09/04 11:36
09/04 11:31
09/04 08:50
09/04 07:57
"Thematic olive routes” | Crete opens a new page for its visitors
09/04 07:52
New English-speaking postgraduate program from the Technical University of Crete
09/04 07:49
Sitia Geopark: Educational tourism in the nature of the Ziros Plateau
09/04 07:45
Mykonos: Investments in infrastructure to boost cruise tourism
08/04 04:55
N. Chalkiadakis on Tornos News: How a beer brought swingers to Crete
08/04 04:55
Alexandroupolis Municipality at Tourism Workshop in Bucharest
08/04 04:55
Municipality of Drama: Highlighting and integrating Byzantine fortification into urban fabric
08/04 04:55
Participation of Samothrace in a project to highlight the cultural value of historical sites
08/04 04:55
“Art is our Language”: Campaign for the 70th Anniversary of the Athens Epidaurus Festival
The action of the region of Crete "Let's go for... Greens" concludes this weekend
ΕΟΤ China | B2B meetings with Chengdu's t.os - Flights to Athens in June
Cooperation Memorandum between Development Athens and Piraeus University on Tourism
Kos: New advertising campaigns with Jet2 and National Geographic Traveller UK
State-of-the-art conference center at Theartemis Palace Hotel in Rethymno
Zagori: Collaboration with Impact Hub Athens for sustainable tourism and innovation
Imbros Trail Run & Hike 2025: A sporting tribute to the History of Sfakia
Audio Walk in the Sitia Geopark: A Different Exploration Experience in Crete
Religious Tourism | The University of Palermo comes to Panagia Nafpaktiotissa
Juneyao Airlines: More direct flights from Shanghai to Athens in 2025
Bill lifting restrictions for Greeks voting from abroad greenlighted by majority vote
Greek capital of Athens among top-10 most beautiful cities for the second time
Severe weather front to continue across Greece until Wednesday (video)
Alltours: Familiarization trip to Greece for 250 travel agents
Nations Cup Beach Volleyball is coming to TUI Magic Life Candia Maris on May 16-18
Mykonos: Smiles for Easter, optimism for record arrivals in 2025
Increase in visitor numbers and revenues to museums and archaeological sites in 2024