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Latest report indicates that air cargo demand is outperforming pre-Covid stats from 2019
Recently released October 2021 data for global air cargo markets showed that air cargo demand continued to be well above pre-crisis levels (October 2019), with demand up 9.4%, according to the International Air Transport Association (IATA). Capacity constraints have also lessened slightly.
Global demand, measured in cargo tonne-kilometers (CTKs), was up 9.4% compared to October 2019, and up 10.4% for international operations. Capacity constraints have eased slightly but remain 7.2% below pre-Covid levels, and down 8% for international operations. The IATA data also address the ongoing supply chain disruptions, and it noted that manufacturers have been using air transport to make up for lost time during the production process.
“October data reflected an overall positive outlook for air cargo,” explains Willie Walsh, IATA’s director general. Supply chain congestion continued to push manufacturers towards the speed of air cargo ... And capacity constraints were slowly resolving as more passenger travel meant more belly capacity for air cargo. The impact of government reactions to the Omicron variant is a concern. If it dampens travel demand, capacity issues will become more acute.”