The effects of the Covid-19 crises and the Russian-Ukrainian conflict continue to shake the global airline industry and hamper the sector's recovery efforts. A particularly difficult context for several companies that are on the verge of suffocation.
The International Air Transport Association (IATA) in its monthly report published on Thursday, July 7, reports that global freight demand, measured in freight tonne-kilometers (CTK*), fell by 8,3% in May year-on-year.
This is still an improvement on the 9,1% drop recorded in April, compared to the same month last year.
For IATA, the easing of anti-covid restrictions in China, the continuation of the war in Ukraine, new export orders, are among others, factors which were determining in the level of volumes observed in May.
« May brought some positive news for air freight, particularly due to the easing of some Omicron restrictions in China. On a seasonally adjusted basis, we saw growth (0,3%) after two months of decline.
The return of Asian production as COVID-19 restrictions ease, particularly in China, will support air freight demand. And the strong rebound in passenger traffic has increased capacity, although not always in markets where capacity shortages are most critical. But the uncertainty of the overall economic situation will need to be closely monitored. " said Willie Walsh, IATA Director General.
The report notes that, regarding the distribution of freight volumes by major world regions, only Latin American carriers recorded a 13,8% increase in their traffic, while the figures for the rest of the world remained in the red.
In Africa, the throughput of freight handled by air carriers showed a decline of 1,5% in May 2022 compared to May 2021. In Asia-Pacific, North America, Europe and the Middle East, the decline rates reached 6,6%, 5,7%, 14,6% and 11,6% respectively.
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