The International Air Transport Association (IATA) released April 2022 data for global air cargo markets showing a drop in demand and contraction in capacity.
IATA says the effects of Omicron in Asia and the Russia-Ukraine war continue to create a challenging operating backdrop that is driving the decline.
Global demand, measured in cargo tonne-kilometers, fell 11.2% compared to April 2021 (-10.6% for international operations). Global demand is down 1% compared to April 2019.
Capacity was 2% below 2021 (+1.2% for international operations). Both global capacity and international capacity decreased slightly in April compared to March. Asia experienced the largest falls in capacity.
North American carriers posted a 6.6% decrease in cargo volumes in April 2022 compared to April 2021 and European carriers saw a 14.4% decrease in the same period. Asia-Pacific airlines saw their air cargo volumes decrease by 15.8%.