African airlines saw cargo volumes decrease by 1.5% in May 2022 compared to May 2021.
This was disclosed by the International Air Transport Association via a report issued on Wednesday.
According to the report, which was shared with Nairametrics, the development experienced by African airlines reflected geopolitical stresses and their economic ramifications being felt worldwide.
What IATA is saying
It stated, “African airlines saw cargo volumes decrease by 1.5% in May 2022 compared to May 2021.
“Trade activity ramped up slightly in May as lockdowns in China due to Omicron were eased. Emerging regions also contributed to growth with stronger volumes.
“New export orders, a leading indicator of cargo demand and world trade, decreased in all markets, except China. The war in Ukraine continues to impair cargo capacity used to serve Europe as several airlines based in Russia and Ukraine were key cargo players.”
IATA’s Director-General, Willie Walsh, said, “May offered positive news for air cargo, most notably because of 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 measures eased, particularly in China, will support demand for air cargo. And the strong rebound in passenger traffic has increased belly capacity, although not always in the markets where the capacity crunch is most critical. But uncertainty in the overall economic situation will need to be carefully watched.”
What you should know
- The IATA’s May 2022 data for global air cargo markets showed that the easing of Omicron restrictions in China helped to alleviate supply chain constraints and contributed to a performance improvement in May.
- According to the report, the global demand, measured in cargo tonne-kilometres was 8.3% below May 2021 levels (-8.1% for international operations). This was an improvement on the year-on-year decline of 9.1% seen in April.
- According to the travel body, air cargo performance is being impacted by several factors.
- The air cargo report is a useful barometer of global and regional economic activity and trade, in particular the manufacture and exports of high-value items like electronics, and perishable goods with short shelf lives, like pharmaceuticals, fruit, and cut flowers.