IATA Publishes January Air Cargo Statistics

Latest report suggests a slower rate of growth and constrained capacity

Recently released January 2022 data for global air cargo showed slower growth. Supply chain disruptions and capacity constraints, as well as a deterioration in economic conditions for the sector reduced demand, according to the International Air Transport Association (IATA).

Specifically, global demand, measured in cargo tonne-kilometers (CTKs), was up 2.7% compared to January 2021, and up 3.2% for international operations. This was significantly lower than the 9.3% growth that was seen in December 2021, showing 1% growth for international operations. Capacity was 11.4% above January 2021, and up 10.8% for international operations. Compared to pre-COVID-19 levels, IATA data demonstrates that capacity remains constrained, at 8.9% below January 2019 levels.

“Looking ahead, … we can expect cargo markets to be impacted by the Russia-Ukraine conflict. Sanction-related shifts in manufacturing and economic activity, rising oil prices and geopolitical uncertainty are converging," says Willie Walsh, IATA’s director general. "Capacity is expected to come under greater pressure and rates are likely to rise. To what extent, however, it is still too early to predict.”