Despite a challenging operating backdrop, global air cargo markets show that demand increased by 2.9% in February 2022 compared to February last year.
Global cargo capacity was positively influenced by relaxation of COVID-19 travel restrictions, reduced flight cancellations due to Omicron-related factors, and fewer winter weather disruptions, says latest data from International Air Transport Association (IATA).
While the impact of Russia’s invasion of Ukraine had a limited effect on global air cargo flow in February 2022, IATA says negative impacts of this war and related sanctions will be more visible in March 2022 figures due to high energy costs and reduced trade.
According to Willie Walsh, IATA’s Director General- demand for air cargo remained high in February 2022 but is not likely to reflect in March figures as effects of the ongoing war in Ukraine hit air cargo performance.
IATA said Cargo Capacity was 12.5% above February 2021 figures of 8.9% from global operations. But while this is high compared to periods before the pandemic, cargo capacity remains constrained at 5.6% below February 2019 levels.
Asia-Pacific airlines saw their air cargo volumes increase 3.0% in February 2022 compared to the same month in 2021.
North American carriers posted a 6.1% increase in cargo volumes in February 2022 compared to February 2021.
European carriers saw a 2.2% increase in cargo volumes in February 2022 compared to the same month in 2021.
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