War in Ukraine and omicron affect global air cargo volumes

The International Air Transport Association (IATA) released March 2022 data for global air cargo markets showing a drop in demand. IATA says the effects of Omicron in Asia, the Russia – Ukraine war and a challenging operating backdrop contributed to the decline.

Global demand, measured in cargo tonne-kilometers, fell 5.2% compared to March 2021 (-5.4% for international operations).

Capacity was 1.2% above March 2021 (+2.6% for international operations). While this is in positive territory, it is a significant decline from the 11.2% year-on-year increase in February. Asia and Europe experienced the largest falls in capacity.

Asia-Pacific airlines saw their air cargo volumes decrease by 5.1% and North American carriers posted a 0.7% decrease. European carriers saw a 11.1% decrease in their cargo volumes. Middle Eastern carriers experienced a 9.7% year-on-year decrease.

Latin American carriers reported an increase of 22.1% in their cargo volumes, while African airlines saw an increase of 3.1%.