IATA

Key points from our latest report:

• Global air cargo tonne-kilometers (CTKs) dropped by 13.7% year-on-year (YoY) in November. This is also 10.1% lower than the CTKs for the same month in 2019. The industry performed less well than expected in a traditional peak season due to multiple headwinds in the current global economy.

• Available cargo tonne-kilometers (ACTKs) contracted by 1.9% YoY in November – a second YoY decrease in a row since April 2022. This is mainly a result of airlines responding to supply imbalances from the softening demand.

• Latin America resumed its strong performance in international CTKs, registering a 7.0% YoY growth in November compared with only 0.3% YoY growth in October. Asia Pacific (APAC) region saw the greatest YoY decline among the regions in international CTK, driven by China’s rising Covid cases and shrinking export orders.

• Inflation in the G7 countries pulled back to 7.4% in November from 7.8% in October - the greatest decline so far in 2022. Oil prices also decreased in November despite the still unusually wide jet crack spread.

IATA: Air Cargo Market Analysis - November 2022